With another SpaceX launch and more news this week about delivering multiple cargos on one delivery rocket, the Aerospace industry continues to accelerate. This week, the group of public aerospace companies all sported nice chart setups heading into the fourth quarter. I have circled the SCTR rankings.
I did a review of UTX on a Don't Ignore This Chart article titled United Technologies UTX Pushed The Penthouse Button. Let's look at a few more below.
TransDigm is flying. While Boeing gets all the love, this chart has just had a nice reset and looks ready to make another thrust higher.
Textron (TXT) is also a beautiful chart. This week it looks like the uptrend is resuming. The only caution would be the already lofty momentum shown on the MACD. But it looks like this has more room to run.
For additional content, I produced three videos this week. Take a look and let me know what you liked.
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Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com
Author, Stock Charts for Dummies