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Raytheon secures U.S. Army TOW missile contract while RTX stock edges higher
Raytheon, a business of RTX Corporation, secured a new U.S. Army contract to continue producing and sustaining its TOW anti-tank guided missile system. RTX stock edges higher on the day, trading at $224.12.
RTX price prediction
Current price:
$199.8
0.3500
0.18%
Closed
10/30
Daily range
199.52
204.01
204.01
Weekly range
192.32
204.01
204.01
Loading...
Highlights
- Raytheon received a new U.S. Army contract for continued production and support of the TOW anti-tank missile system, including a $536 million contract modification for full-rate production and engineering.
- RTX stock edges higher on the day, trading at $224.12.
- 60 of 92 analysts rate RTX stock a buy, and Jefferies' latest rating maintains a $220 target.
Raytheon will continue producing and sustaining the TOW anti-tank guided missile under a new U.S. Army contract. Raytheon also received a $536 million modification to an existing contract for full-rate production and engineering services for the TOW Weapon System, bringing its cumulative value to $750.8 million, according to Investing.com. The contract is designed to replenish missile inventories and address shifting operational demands.
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Upside structure holds as shares test overbought resistance levels
The session opened with a gap up from the previous close to $224.27 before giving back part of that move. Shares of RTX maintain a bullish chart structure with price holding above the MA-20, MA-50, and MA-200. The nearest resistance is the weekly high at $226.85. However, RSI is now at 76.7, a stretched reading in overbought territory that limits room for further upside.
Strong upside odds as price action targets the weekly high
A close above $226.85 would show buyers are willing to follow through. RTX stock began the day opening at $224.27, up from $223.03, but retraced part of those initial gains. From here, there is more than an 80% probability of upside and less than a 20% probability of downside for the coming trading week, with an expected trading range between $218.61 and $229.62. A drop below $214.53 would show the move is being faded. On the weekly chart the longer-term picture stays firmly constructive.
Earlier, analysts noted that RTX maintained a broadly bullish technical setup supported by resilient momentum. The latest defense contract win underscores continued strength, with traders now closely monitoring whether the $226.85 resistance will trigger a further upside extension within the current expected trading range of $218.61 to $229.62.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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