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Technical Analysis: L3 HARRIS TECHNOLOGIES (#LHX)

L3Harris Technologies (#LHX) is an American technology company, defence contractor and information technology services provider

#LHX presents a very interesting setup as after touching $ 200 it retraced back to a very strong support area of $ 186: 50% Fibonacci level

From a technical perspective the MACD is sloping up and the RSI is not in overbought territory, we see the RSI as good indicator that the stock has potential and strength for an upside.

In addition, on a daily time frame, the stock is forming a Golden Cross

Entry price: $ 190.67

1st target: $ 196.82

2nd target: $ 200.32

Stop loss: $180.00

OTB Global Investments

London, 14 December 2020

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