Here's what Jim Cramer had to say about some of the stocks that callers offered up during the Mad Money Lightning Round Friday evening. One caller asked about RADA Electronic Industries (RADA) , a holding in TheStreet's Stocks Under $10 portfolio. "I like Raytheon Technologies (RTX) with better growth and technologies," Cramer responded.
We looked at RTX on April 27 , writing that "The charts of RTX are bullish. Traders could go long closer to $80 if available. Risk to $73. The $101 area is our first price target."
Let's check on the charts again.
In the updated daily bar chart of RTX, below, we can see that the shares have moved higher the past three weeks. RTX is trading above the rising 50-day moving average line. The 200-day moving average line is bullish too and intersects just below $70.
The On-Balance-Volume (OBV) line made a new high for the move up this month and tells us that buyers of RTX remain more aggressive than the sellers. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and looks ready to move higher.
In the weekly Japanese candlestick chart of RTX, we see that the latest candle bar shows a long lower shadow telling us that traders rejected the lows.
The OBV line has been rising in recent weeks as buyers are more aggressive and the MACD oscillator is in a bullish alignment with no signs of narrowing.
In this daily Point and Figure chart we can see that prices have almost reached their price target of around $87.
In this weekly Point and Figure chart of RTX, below, we see a potential upside price target of around $111.
Bottom-line strategy: Continue to hold longs. Raise stops to $81 for now. After $87 our next targets are $100 and then $111.
