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Bullish Moving Average Cross by Raytheon (RTN)

Published on Wed, 09/04/2013 - 11:16
By Robert Cotter

Today, shares of Raytheon (NYSE:RTN) have advanced above their 10-day MA of $76.10 on a volume of 699K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Raytheon (NYSE:RTN) is currently priced 13.6% above its average consensus analyst price target of $65.86. The stock should discover initial support at its 50-day moving average (MA) of $71.88 and subsequent support at its 200-day MA of $62.21.

Over the past year, Raytheon has traded in a range of $52.24 to $77.93 and is now at $76.20, 46% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.

Raytheon Company conducts operations in defense and government electronics, space, information technology and technical services. The Company designs, develops, manufactures, integrates, supports and provides a wide range of products, services and solutions for principally governmental customers in the United States and abroad. Raytheon has employees worldwide.

By Robert Cotter
rcotter@fnno.com