Shares of United Technologies (UTX) have plunged sharply. There is lots of hand wringing going on. I sense blood in the streets of Farmington, Connecticut and Waltham, Massachusetts. Let's take a cleansing breath and take a look at a few charts and indicators.
In this daily Japanese candlestick chart of UTX, below, we can see that prices have rapidly descended from short of $160 to almost $70 in a matter of days. Takes your breath away.
Prices are well below the declining 50-day and 200-day moving average lines. The 50-day moving average line is close to crossing below the 200-day line.
Trading volume has been very heavy and the On-Balance-Volume (OBV) line has been weak. The 12-day price momentum study has yet to show any signs of slowing.
In this weekly Japanese candlestick chart of UTX, below, we can see that prices have broken the late 2018 low. 
The 40-week moving average line has turned down. The weekly OBV line shows more aggressive selling and the slow stochastic indicator is very oversold.
Not a pretty picture.
In this Point and Figure chart of UTX, below, we used weekly close only price data and round number increments.The decline looks very dramatic and it is. On the left scale is the volume by price data and we can see that there was considerable volume transacted in the price area just below today's low. Let's see if buyers return.
Bottom line strategy: Prices plunge, fear rises, bids disappear. At some point the end of the world we know will be discounted in the price action.
