I think the XAR and the defense industry companies are looking good and have under performed year to date. My picks are General Dynamics & Northrop Grumm NYSE:GD AMEX:XAR NYSE:NOC an.
GD is approaching our first resistance at 187.10 (horiozntal overlap resistance, 61.8% fibonacci extension, 50% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 165.58 (horizontal overlap support, 50% fiboancci retracement). Stochastic (55,5,3) is also approaching resistance where we might see a...
Your textbook Head and Shoulders on the daily and weekly.
Aug 13 approval of D-plan spending. This one to join top 5 D-stocks. Call it a vice stock. Come to own conclusions.
I'm looking to play some options (calls) on General Dynamics this week. Looks like $GD has dipped and reversed off of an ER beat of 6%. I'm looking for either a double bounce off of $195 or some other bullish signals to pick up some calls. I'll keep an eye on this and update as time progresses and we have more information.
GD is in oversold territory on the RSI(2). Price is also in the supply zone so look for long positions from this point. Price could test the ascending trend line at around $140. ER is out on the 29th and previous ER's have surprised Wall Street on the last 3 occasions. This is a strong stock with a strong fundamental basis. The technicals are falling into place....
DD extended the rebound off 130.91 (April 13, 2015 weekly low) to test 5-month falling channel resistance (as shown on the weekly chart), reaching 140.19 (April 29, 2015 high). Further strength above the latter is needed to confirm a bullish flag breakout pattern and bolster for 142.55 (February 16, 2015 weekly high) ahead of the 146.13 peak (November 24, 2014)....