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LMT a defense sector leader setup LONG
Lockheed Martin Corporation
Long
LMT a defense sector leader setup LONG
By AwesomeAvani
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Jul 27, 2023
2
Cheer
Cheer
Jul 27, 2023
On the daily LMT, over the long term is shown to have descended into the support
of the ascending support trendline in what appears to be an ascending wedge.
Confluent with the support trendline is the mean VWAP and the mean band of
the Bollinger Bands. I see an opening for a long trade targeting the resistance
trendline and also the second standard deviation of the anchored VWAP ( red
thick line) Fundamentally, LMT just beat on both the top and bottom lines.
It is in a obvious growth industry with a bakclog of production in the setting
of the Russian Ukraine war and the need for US and NATO to replenish their
stockpiles. This long trade is best for investors content with slow moving blue
chip Dow Jones type stocks or alternatively agile options traders able to leverage
low magnitude up trends. I see about 10% upside and will buy some call options
to exploit this setup.
anchoredvwap
Ascending Broadening Wedge
defensestocks
DFEN
GD
LMT
Moving Averages
Oscillators
RTX
trendlineanalysis
trendlinesmatter
Volume
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