RTX Shares Surge 3.34% to $145.69 on Bullish Technical Signals and Heavy Volume

RTX shares advanced 3.34% during the most recent trading session, closing at $145.69 on substantial volume of 11.72 million shares. This strong performance merits detailed technical assessment across multiple frameworks.
Candlestick Theory
The recent price action reveals a bullish engulfing pattern formed over the last two sessions. The 3.34% white candle on June 13th completely engulfed the prior day's small bearish candle, signaling strong buying pressure. Key resistance emerges at the June 11th swing high of $146.02, while notable support exists near the June 9th and 10th consolidation zone around $140. A decisive break above $146.02 would open the path toward the April peak of $146. Conversely, failure to hold above the 50-day MA (discussed below) near $138.50 could signal bearish momentum.
Moving Average Theory
RTX currently trades above all major moving averages, confirming a bullish trend structure. The 50-day EMA ($138.50) maintains its upward trajectory above the rising 100-day EMA ($132.80) and 200-day EMA ($125.30). Notably, the 50/200-day golden cross formed in late 2024 remains intact. Recent price bounces off the 50-day MA suggest this moving average acts as dynamic support. The sequence (price > 50-day > 100-day > 200-day) signals robust intermediate and long-term upward momentum. Sustained trading above $140 reinforces this bullish alignment.
MACD & KDJ Indicators
The MACD (12,26,9) shows a bullish crossover emerging, with the histogram transitioning from negative to positive territory in the latest sessions. This indicates building upside momentum following a brief period of consolidation. Meanwhile, the KDJ oscillator exhibits recovery: the %K line (currently near 68) has crossed above the %D line (near 60) from oversold levels below 30 just days prior. While not yet in overbought territory (KDJ readings above 80), this rapid ascent warrants monitoring for potential near-term exhaustion, though it confirms strengthening short-term momentum.
Bollinger Bands
Volatility, as measured by the 20-day Bollinger Bands, contracted significantly in early June before the latest price breakout. The bands have now expanded following the 3.34% surge, reflecting a volatility expansion confirming the bullish move. Price closed near the upper band ($145.69 vs Upper Band ~$147), indicating strong upside strength. Band expansion concurrent with an upper band tag suggests the uptrend has energy. The middle band (20-day SMA near $140.50) now provides a key support level on pullbacks.
Volume-Price Relationship
The recent bullish breakout carries strong volume validation. The June 13th surge occurred on 11.72 million shares – significantly higher than the 4.66 million shares traded during the preceding down day and exceeding the 30-day average volume. This high-volume breakout increases its reliability. Crucially, major upward moves (like those on April 23rd: +5.74% on 10.46M shares and June 11th: +2.38% on 6.37M shares) consistently featured volume expansion, confirming institutional participation. Declines, including the sharp April 22nd drop, also saw high volume, confirming distribution points. Current volume profile supports the sustainability of the uptrend.
Relative Strength Index (RSI)
The 14-day RSI, calculated using the provided formula and recent average gains versus losses, currently reads approximately 61. This positions it comfortably in the neutral zone, rebounding from a low near 45 during the minor June dip. While it remains below the overbought threshold of 70, the recent sharp rise warrants monitoring for potential overextension. Importantly, the RSI aligns with the price hitting new highs (making higher highs), showing no current negative divergence which would otherwise warn of weakening momentum. There is room for further upside before overbought concerns arise based solely on RSI.
Fibonacci Retracement
Applying Fibonacci retracement to the most significant recent swing (the decline from the April 3rd high of $146.02 to the June 10th low of $137.94) reveals key levels. The $145.69 close places RTX just above the 78.6% retracement level ($145.30). This strong recovery surpasses the key 61.8% level ($142.90) convincingly. The next major Fibonacci barrier is the 100% retracement at $146.02. Surpassing this swing high would signal a complete recovery and potential resumption of the primary uptrend. Support now resides at the 61.8% level ($142.90), aligning with the recent breakout point and psychological $140 support.
Confluence Points and Conclusion
Multiple indicators exhibit bullish confluence. The price resides above all key moving averages (MA Theory) with the MACD turning positive and the KDJ recovering strongly (Momentum). The high-volume breakout (Volume-Price) and bullish engulfing candle (Candlestick) occurred concurrently. The RSI shows healthy room for upside without immediate overbought risk. Furthermore, price holds firmly above the critical 61.8% Fibonacci level and is testing the 78.6% level. The only cautionary note is the proximity to the upper Bollinger Band and the April peak at $146.02, which may induce short-term resistance and potential consolidation. Absent significant negative divergences currently, the technical structure suggests continued upside bias, with a break above $146.02 needed to confirm a resumption of the prior strong advance. Probabilities favor testing the $146 resistance level in the near term.