United Technologies Corp. (UTX): Turning “Opinions” into Trading Opportunities
See how one method stayed a step ahead of UTX's 3 big trend changes in September-October
by Nico Isaac
Updated: November 23, 2018
Every trader can relate to the frustration depicted in the chart below, the Big-Board stock United Technologies Corporation (UTX).
From May to August, prices enjoyed a steady uptrend -- only to plateau in a weeks-long sideways trend. At that point, the question became: Were prices gearing up for a new rally, or a downward reversal?
A direct question. Only the response was anything but. Take, for example, the myriad of news items below which failed to clarify the near-term trajectory in United Technologies Corporation:
- UTX is Bullish: "This Oversold Sector is Set for a Huge Rebound... Considering this fantastic fundamental and technical set up, it's time for traders to get long UTX." (Nov. 2 Investorplace)
- UTX is all over the map: "Mixed Analysts... UTX. ...1...sell, 5...hold, 7...purchase" (Nov. 10 Financial Mercury)
- UTX is Bearish: "Why this Stock is Very Risky?: UTX" (Nov. 19 Investorplace)
- UTX is Bearish: "Still Spinning in the Sand: UTX" (Nov. 20 NYSE News Today)
- UTX is Bullish: "Could Generate Strong Returns?: UTX" (Nov. 21 NMSU News)
The problem wasn't just the difference of opinions. It was also that none of them offered a way to know whether those opinions were wrong -- before you followed them.
This is where our Trader's Classroom provided an alternative: It gave you a "preferred" Elliott wave forecast AND kept your mind open to differing wave interpretations, each with a specific "trigger point" based on Fibonacci-calculated support and resistance price levels.
In his September 12 Trader's Classroom lesson, editor Jeffrey Kennedy offered two options where UTX could go in the near term. In the following clip, hear Jeffrey walk traders through both scenarios and identify critical price levels. Simply press play and enjoy
In the days that followed, UTX obeyed its critical bullish support level and spent the remainder of September flying higher.
Then, in the October 10 Trader's Classroom, Jeffrey presented an updated Elliott wave count for UTX, this time clearing the path for a precipitous sell-off:
"...we were looking up in a fifth wave... and we pushed higher, setting the stage for a retracement back into the prior fourth wave extreme. So, I suspect what we'll see moving forward in UTX is further decline."
From there, UTX's downtrend pushed prices 11% lower to a five-month nadir in October.
In the October 25 Trader's Classroom, Jeffrey visited UTX once more. There, he showed this wave count, which closed in on a possible bottom and pending rebound.
For the third time, UTX followed its Elliott wave script, hitting bottom on October 29 and reversing up.
The chart below illustrates the timing of Trader's Classroom lessons at major turning points in the stock.
It's easy to find market opinions these days. Often, they leave you more confused than before.
Elliott wave analysis gives you an objective view, one based on repeating chart patterns and exact support and resistance points that help you manage risk.
Risk-free, find out what markets are on Jeffrey's Trader's Classroom radar today.
THAT trader who can see high-confidence entries, get in and get out with
confidence — and sleep at night.
Several times a week, you meet with a market veteran and he's one of the
most sought-after teachers in the world. He has dedicated his entire
professional career to helping traders like you spot and act on
high-confidence trade setups.
At every meeting, you watch over his shoulder as he shows you exactly
how to spot your market opportunity. And he doesn't just teach principles.
He uses real-life market opportunities to show you the
telltale signs that a market is about to move. He also coaches you on how
to create your trading plan for this setup — including how to estimate
upside potential and identify risk-limiting price levels.
Sound like an ideal fantasy? Well...
THAT is exactly what Jeffrey Kennedy is offering you
as a Trader's Classroom subscriber!
Here's How Trader's Classroom Helps
You Trade With Confidence:
3 times a week, Jeffrey uploads an exclusive 10-15 minute video for you to
the Trader's Classroom subscriber area. While each lesson is not a
big time commitment, it's packed with trading insights that you can
instantly apply to any market. And any time frame. And you can watch and re-watch
the lesson as many times as you like.
Today's lesson might be a valuable insight into a historic market setup in
Gold... Tomorrow it might be an immediate trade setup in Google. In the past
month alone, Jeffrey has taught valuable trading lessons using NKE, AAPL, BAC,
JNJ, JPM, FB, QQQ and many more... Whatever it is, each Trader's Classroom lesson
delivers lasting insights that compound to change the way you trade
Would you like to have Jeffrey mentor you? Don't miss this risk-free offer...
This Offer Gives You Everything
You Need to Launch Your Elliott Wave Trading Journey
Years from now, you'll look back on the next three months as a pivotal point
in your trading approach. The learning track we've designed for you includes
real-time mentoring, plus four self-paced trading resources. This package
would normally cost $482. But today, you can get it for $147.
Here's what you get...
You Get: Ongoing Real-Time Mentoring
Three months of Jeffrey Kennedy's Trader’s Classroom
Over the next three months, Jeffrey Kennedy is your opportunity-seeking
Sherpa. He will show you opportunities and dangers in the markets. In fact,
as soon as you order, you get instant access to the last three months of
lessons! Some of the opportunities highlighted in these lessons are still
Plus: A Self-Paced Learning
Four trader resources hand-picked from our educational library — a
Together, these 2 books and 2 online courses combine to offer the best foundation
and reference guides for Elliott wave traders.
To start, you get Elliott Wave
Principle - Key to Market Behavior (a $29 value). This
definitive guide to Elliott wave analysis will be your roadmap and
reference guide from here on.
Next, the Visual Guide to Elliott
Wave Trading (a $60 value) gives essential insights
on how to incorporate Elliott wave analysis into your trading style.
Develop Trading Plan
Then, put down the books and head to a screen,
for two online courses. In The Wave Principle Applied Online
Course (a $99 value), Jeffrey Kennedy shows you how to spot an actionable
pattern and formulate a trading strategy.
And finally, get unique insights with The
Kennedy Channeling Technique Online Course (a $98 value),
and learn about an invaluable tool that helps give more confidence
to your waves counts.
Bonus: New LIVE Trader's Classroom Lessons Every Month
As a Trader's Classroom subscriber, at least once each month, you are invited
to join Jeffrey Kennedy LIVE online for an interactive Trader's Classroom lesson.
During these interactive lessons, you can personally ask Jeffrey your questions
about the day's lesson, get his responses in real time, and benefit from other
subscribers' comments and questions, as well. And don't worry if you're unable
to make the live events: We'll post recordings in your subscribers portal with
your other Trader's Classroom lessons later that day.
Your Risk-Free Subscription Now
Three months of Trader's Classroom,
plus four essential trader resources (a $433 Value):