United Technologies Corporation (NYSE:UTX) is a leading provider of technology products and services to the building systems and aerospace industries around the world. This company recently struck a deal to acquire Rockwell Collins(NYSE:COL) for $140.00 a share. As usual, when a company buys another business the stock price will often suffer in the near term. That has been the case with United Technologies Corporation (NYSE:UTX).
UTX stock peaked out on July 12, 2017 at $124.78 a share. Since that high pivot the stock has declined down to $110.00 a share. Traders should note that the 200-week moving average sits around $108.66 and this level should serve as solid near term support for the stock price. This stock is now on my radar for a potential buying opportunity.
Nicholas Santiago
InTheMoneyStocks
