Raytheon Technologies (RTX): The breakout toward $222
|Raytheon Technologies Corp (NYSE: RTX) leads the aerospace and defense sector. Recent geopolitical events have fueled strong outperformance and momentum for the stock. Today, we analyze the Elliott Wave pattern driving its strategic breakout. Our examination provides a clear technical roadmap for its ascent. This convergence of sector strength and wave structure creates a compelling technical setup.
Elliott Wave Analysis
From its 2020 low, RTX created a three-wave advance to new highs. Wave I ended at $106, followed by Wave II at $68. Currently, Wave III remains in progress. This weekly cycle also shows three waves into new highs. Therefore, the stock has an incomplete bullish sequence. It aims to complete five-wave advances from both 2020 and 2023.
The projected path shows an extension toward $222. This move will likely occur within wave ((3)). Consequently, it can later propel Wave III beyond $250.
RTX should continue extending higher through a series of third and fourth waves. The key invalidation level is the April 2025 low of $112. All daily corrections must hold above this level. These pullbacks will create buying opportunities as 3, 7, or 11-swing patterns.
RTX Weekly Chart 1.23.2026
Conclusion
RTX’s bullish cycle confirms further upside ahead. Consequently, traders should target strategic entries during daily pullbacks. Apply our Elliott Wave methodology for exact timing. Specifically, enter the market after a 3, 7, or 11-swing correction completes. Additionally, our proprietary Blue Box system identifies high-probability reversal zones. This disciplined approach provides clarity and confidence. Ultimately, it positions you to capture the next major advance.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.