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Downgrade Alert for United Technologies (UTX)

By David Diaz

United Technologies (NYSE:UTX) was downgraded from Buy to Neutral at Goldman Sachs today. The stock closed yesterday at $104.37 on volume of 4.2 million shares, above average daily volume of 4.0 million.

United Technologies Corporation provides technology products and support services to customers in the aerospace and building industries worldwide. The Company's products include aircraft engines, elevators and escalators, heating and air conditioning equipment, helicopters, aerospace systems, fuel cell systems, and fire and safety equipment.

There is potential upside of 4.5% for shares of United Technologies based on a current price of $104.37 and an average consensus analyst price target of $109.07. United Technologies shares have support at the 50-day moving average (MA) of $99.97 and additional support at the 200-day MA of $95.50.

United Technologies share prices have moved between a 52-week high of $119.66 and a 52-week low of $83.39 and closed yesterday at 25% above that low price at $104.37 per share. The 200-day and 50-day moving averages have moved 0.11% lower and 0.97% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of United Technologies on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $91.89. Since that recommendation, shares of United Technologies have risen 13.6%. We continue to monitor UTX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades United Technologies

Ticker(s): UTX