Sell Setup: UTX

Today’s video will highlight a sell setup in UTX. After a multi-month consolidation and breakdown below the 200 and 50 day moving averages, the stock has rallied back into resistance. Resistance lies at roughly 110.22-111.48, coinciding with cluster zones and retracement levels. We are looking for a sell signal, and if it triggers we would place our stop above the highs of the recent rally, or above the high end of the cluster zone. If the sell triggers, we should see a pullback to the recent lows and possibly a breakdown even further.