TXT, a stock ticker symbol for Textron Inc., has recently seen its Average Directional Movement Index (ADX) indicator cross above the Average Directional Movement Index Rating (ADXR). This is the sixth time this has occurred in the past, and it could be a sign of a potential price change in the near future.
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The ADX indicator measures the strength of a trend in the stock market. When the ADX is above the ADXR, it is a sign that the trend is strong and could be a good time to invest. However, it is important to note that TXT’s ADX crossing above the ADXR has not always resulted in a positive price movement.
Historically, when the ADX has crossed above the ADXR for TXT, the price has decreased in the next 30 days 84% of the time, with a median price movement of $-5.89. In the next 90 days, the price decreased 100% of the time, with a median price movement of $-6.2.
It is important to remember that past performance is not a guarantee of future results. As such, investors should do their own research and consider their own financial goals and risk tolerance before investing in TXT.