United Technologies Bounces: Short It Here, Make Money

United Technologies Corporation (NYSE:UTX) continues to bounce higher. Anytime a stock collapses (like UTX did) and then bounces, it is usually another opportunity to short it. The key is, waiting for the proper chart setup and resistance level. Look for United Technologies to continue higher into next week. If/when United Technologies Corp. hits $112.50, short it. This is a former support level which was broken (now it becomes resistance) as well as the 200 moving average and just above the 50 moving average on the daily chart. Note the chart below of United Technologies Corporation.

Gareth Soloway
InTheMoneyStocks.scom