Don't Ignore This Chart

Textron (TXT) Busts Through 2017 Resistance


Textron has had a tumultuous last couple of years. The stock has been rallying out of a deep base. It has spent 2017 consolidating, but this week the stock accelerated to new highs. The SCTR is surging up to 75.

The momentum on the MACD is just turning up with lots of space above. This chart looks ready to accelerate with a stop at this weeks low.

There have been lots of videos posted in the last week. You can check out the Market Outlook with Tom Bowley and Greg Schnell on the Vimeo channel or click to play here.

2017-09-09 09.00 The StockCharts Outlook from on Vimeo.

I also published a Commodities Countdown Video for those interested in Gold.

Commodities Countdown Video With Greg Schnell 2017-09-07 from on Vimeo.

For those interested in the Canadian markets, A new Canadian Technician article was published recently as well.

Canadian Technician Video Recording With Greg Schnell 2017-09-05 from on Vimeo.

Lots of information to check out!

Good trading,
Greg Schnell, CMT, MFTA.

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018). Learn More
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