Lockheed Martin has been one of the strongest names in defense – maybe the entire market – in 2018. In fact, if we look at its chart from November 2017, we see the stock is up nearly 20%. Not too bad for a mega-cap name!
Lately, this stock has been moving up like a champ, and it’s likely to make a move into much higher ground soon. Monday was a robust day on very strong turnover, and we would like to see a bit of followthrough in the coming days.
Looking at the indicators, the MACD is on a buy signal, money flow just turned positive again and RSI has a nice steep slope with a solid trajectory. Taken together, these readings tell us this stock is out-performing the market.
We like Lockheed Martin and added it to our Explosive Options portfolio on Monday.
Lockheed Martin (NYSE: LMT) Video Chart Analysis
Take a deeper dive into the chart action on Lockheed Martin NYSE: LMT and learn how to read the technicals. Get Bob Lang’s full analysis as he marks up our chart of the week.
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About Lockheed Martin
Lockheed Martin Corporation is a global security and aerospace company principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Company also provides a broad range of management, engineering, technical, scientific, logistics, system integration and cybersecurity services. It serves both U.S. and international customers with products and services that have defense, civil and commercial applications, with its principal customers being agencies of the U.S. Government. The Company operates in four business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space Systems.