Lockheed Martin (LMT) Symmetrical Triangle
LMT has been consolidating within this range 380-397 for about two weeks now, although yes a symmetrical triangle can result in either up or downward moves, Im willing to bet we see a continuation in its current price pattern up until it meets resistance at the Fibonacci extension/resistance of 402.50 which would be over a 4% move from the apex of the triangle, it will most likely need more time to consolidate but current market conditions have been rather bullish, so I'm hoping for a pre mature break from this pattern, I'm looking at June 18 402.5 calls. Will update if anything changes.
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