Textron Inc. (TXT) gapped to the upside last week. Prices have more than doubled in the past two years or so but further strong gains look like they are in store for TXT longs.
Let's check out the charts and indicators of this multi-industry company that is involved in aircraft, defense, industrial and other businesses.
In this daily bar chart of TXT, below, we can see a durable uptrend the past 12 months where rallies are followed by sideways consolidations. The shorter 50-day simple moving average line has a positive slope for much of the time while the longer 200-day average line is bullish with brief tests in June and August.
Volume has expanded with the rally the past year and the daily On-Balance-Volume (OBV) line has moved higher to confirm the advance.
The trend-following Moving Average Convergence Divergence (MACD) oscillator has been above the zero line for much of the last year and is currently pointed up in a bullish configuration.
In this weekly bar chart of TXT, below, going back three years we can see the rising 40-week moving average line.
The weekly OBV line has been rising since early 2016 and the MACD oscillator has been above the zero line since late 2016. The MACD oscillator just turned up for an outright buy signal.
In this Point and Figure chart of TXT, below, we ignore gaps and volume. The large consolidation pattern since early 2018 has broken out on the topside and yields a potential price target of $80.88.

Bottom line: The charts and indicators of TXT are strong and pointed higher. Traders should look to buy TXT around $64 or closer to $63 but I do not think the gap will be filled. Risking below $60 my target is the $80-$81 area.