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United Technologies (UTX) Breaks Through Resistance at $93.07
Mar 22, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of United Technologies (NYSE:UTX) have bullishly opened above the pivot of $92.67 today and have reached the first resistance level of $93.07. Should the shares continue to rise, the resistance pivots of $93.70 and $94.73 will be of interest.
United Technologies (NYSE:UTX) has potential upside of 4.7% based on a current price of $92.94 and analysts' consensus price target of $97.32. The stock should find initial support at its 50-day moving average (MA) of $89.72 and further support at its 200-day MA of $80.76.
United Technologies share prices have moved between a 52-week high of $94.00 and a 52-week low of $70.71 and are now trading 31% above that low price at $92.94 per share. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.8%.
SmarTrend recommended that subscribers consider buying shares of United Technologies on November 28th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.19. Since that recommendation, shares of United Technologies have risen 16.7%. We continue to monitor UTX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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