L3Harris Technologies, Inc. provides technology-based solutions that solve government and commercial customers’ mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.
Take a look at the 1-year chart of Danaher (NYSE: LHX) below with added notations:
LHX has hit the $215 mark as resistance several times over the past two months. The stock now sits just a couple ticks below it. A solid close above $215 should lead to another leg higher for LHX.
The Tale of the Tape: LHX has a key 52-week resistance at $215. A possible long position on the stock would be on a breakout above that level with a stop placed under it.
Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.
No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!
Christian Tharp, CMT