Leading Dow Jones Industrial Average component, United Technologies (NYSE:UTX), reported earnings on Tuesday that were well received by the street. Unfortunately, the stock is giving back all of its gain since then and is close to making new 3-month lows. The stock is now trading below its 50 and 200-day moving averages, this is a sign of weakness in the near term.
Watch This Support
The next important support level for UTX will be around the $120.00 area. That's where it was defended in May 2018 and will likely serve as important support again when retested.