The chart below shows that United Technologies Corp (UTX) met our $137.25 per share upside target this morning, first displayed and discussed in our December 12th Asbury Alert entitled United Technologies Corporation (UTX) Resuming 2016 Advance (access requires subscription), to capture a $13.69 per share, 11.1% price advance in 23 trading days.
UTX also outperformed the S&P 500 (SPX) by 5.8% during the same period.
Note that price targets being met do not necessarily mean that the directional move is over — only that our initial expectations have been met. Also note that we are not short term traders. The average time period from the introduction of one of our ideas and it meeting its target or being stopped out is more than 2 months. However, sometimes — like in this case — our targets are met quickly, and when they are we suggest at least taking a partial profit on the position.
Here is the chart that appeared in our December 12th report.
Here is today’s updated version of that chart, showing that our $137.25 has been met.
We publish these notifications for 3 reasons:
- to let Asbury Research subscribers know when to consider taking profits on existing positions,
- to let non-subscribers track what we are doing in the market, in real time, and
- to make everyone aware of a potential upcoming price reversal as price advances often end as upside targets are met and more savvy investors take profits.
Asbury Research subscribers can view our latest research on the US stock market, market sectors, US interest rates, ETFs and commodities, as well as a table with our current picks in US stocks, ETFs, and global indexes, by logging into the Research Center via the big gold button in the upper right corner of the screen.