March 16, 2012#KillirGuestPost by @Wesley_Harr for 2/16/12 Written by Wesley Harr ~~~~ #WesWords ~~~~ Sticking with our aerospace and defense names I wanted to take a look today and United Technologies (UTX). Along with much of the space, this has been performing quite well off of the lows it registered last fall. With the name trading around the upper end of its trend line, after a prolonged rally, yesterdays price action was a bit of a struggle leaving a candle with very little body and large wicks top and bottom. This is indicative of a possible correction or change in price direction. Today this is being followed by an ugly overshadowing red candle. With a close around this area I would not be surprised to see further pressure on the downside to the lower trend line somewhere around the $83.25 area. -Wesley Harr
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