LMT Lockhead Martin ripping higher- but beware
Log scale monthly
Trend channel from the early 2000's, cloned and stacked on top to form 2nsd channel
strong bullish candle in October, with weak follow in Nov and so far this month of Dec 2022. We're at the top of the channel. Technically is a higher probability short since we have 5 waves up from the low in Jan 2021.
Near-term:
Target would be Fib 13 at $441
Long-term:
Higher target is Fib 21 at $698 Near Mar 2026
Lower Target is Fib 8 at $280
If we see price slowly trend higher over the next few months, we may be starting a new channel
Trend channel from the early 2000's, cloned and stacked on top to form 2nsd channel
strong bullish candle in October, with weak follow in Nov and so far this month of Dec 2022. We're at the top of the channel. Technically is a higher probability short since we have 5 waves up from the low in Jan 2021.
Near-term:
Target would be Fib 13 at $441
Long-term:
Higher target is Fib 21 at $698 Near Mar 2026
Lower Target is Fib 8 at $280
If we see price slowly trend higher over the next few months, we may be starting a new channel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.