United Technologies Corporation (NYSE:UTX) is a leading provider of technology products and services to the building systems and aerospace industries around the world. The company recently struck a deal to acquire Rockwell Collins (NYSE:COL) for $140 a share. As usual, when a company buys another business, the stock price often suffers in the near term. And that's exactly what we've seen with United Technologies, which peaked on July 12, 2017 at $124.78 a share.
Since that high pivot, the stock has declined down to $110 a share. Traders should note that the 200-week moving average sits around $108.66, a level that should serve as solid near-term support for the stock, which is now on my radar for a potential buying opportunity.
