Textron Inc. (TXT) – This aerospace manufacturer of Cessna business jets, Bell helicopters, and industrial equipment and components appears to be breaking from a trading rectangle.
Textron is in a powerful bull market with recent price action supported by both the 20- and 50-day moving averages, and a stochastic that is turning up.
All of this suggests that the resistance line of the rectangle at $21 is about to be broken.
If this were to occur, the target for the trade is $25.
S&P has a “four-star buy” on the stock with a target of $25.
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