“Defense Stocks Stand Down: Why NOC, LMT, RTX & Others Lag Amid U.S.-Iran War”
RTX is oversold and positioned for a pre-earnings rebound.
larger backlog of orders for defense contractors such as Raytheon, Boeing, Lockheed, and Northrop, which leads to increased production, and therefore increased revenue and free cash flow for these companies.
I looked at RTX, which is still having a good year with a gain of about 10%, but we saw it fall by about 5% this week, and 10% overall from its recent all-time highs . So I looked at something upward.
Implied volatility levels are low, and the technically-based Relative Strength Index is reaching the low thirties, possibly indicating an oversold situation at this point.