UNITED TECHNOLOGIES Q2 PROFIT TOPS EXPECTATIONS, STOCK ABOVE ALL MAs
United Technologies Corp.’s stock is currently trading at 134.45-higher by 1.13% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 2.41%. The stock has erased some of its earlier gains after the opening bell.
The company reported its second-quarter earnings before the market opens on Tuesday. United Technologies generated an EPS of $2.20 for the second quarter. The EPS was above the market expectation of $2.05. The company brought in $19.63 billion in revenue for the quarter ended 30th June. The revenue was above the consensus estimates of $19.53 billion.
The industrial conglomerate reported better-than-expected quarterly results due to an increase in demand for aircraft parts and spares. United Technologies now expects adjusted EPS to a range of $7.90 to $8.05 for this year. It was higher than the previous forecast of $7.80 to $8.00.
On the technical front, the current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards. The RSI is currently at 60.73% and suggests that the market can move in the upward direction.
TRADE SUGGESTION- LIMIT BUY AT 134.25 TAKE PROFIT AT 135.10 STOP LOSS AT 133.80