United Technologies Moving Above Resistance

Published on Thursday, 09 February 2012 07:44 Written by TradersHuddle Wire

New York, February 9th (TradersHuddle.com) - Shares of United Technologies Corp. (NYSE:UTX) closed the trading session at $81.74 just above calculated resistance at $81.50 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

United Technologies Corporation (NYSE:UTX) provides technology products and support services to customers in the aerospace and building industries worldwide. The Company's products include aircraft engines thru its Pratt & Whitney segment, elevators and escalators thur its Otis segment, heating and air conditioning equipment thru its Carrier unit, aerospace systems, and fire and safety equipment, and Helicopters thur its Sikorsky unit. United Technologies was founded in 1934 and is based in Hartford, Connecticut.

United Technologies' stock was trading in a well defined range with support at $71.60 and resistance at $81.50, given that this range was broken traders will be closely monitoring the stock