LOCKHEED MARTIN LONGWe expect a rebound from the support levels.
Entree at 440.73
Stop-loss at 435.69
Take profit at 486.06
Lmtbuy
Lockheed Martin Bull PennantThis is a monthly chart of the defense company Lockheed Martin (LMT).
As you can see, a bull pennant is appearing.
In my experience, I have found that the most valid bull flags or pennants usually retrace back to the Golden Ratio (0.618), then bounce and continue higher (see below chart).
When this occurs, the measured move up is typically one full Fibonacci spiral from this retracement level, which usually occurs over a period of time that is about the same as the period of time it took the bull flag or pennant to form (see below chart)
The above chart suggests that LMT could climb into the 500s or as high as about 600 by the second quarter of next year. The best time to enter a trade would probably be after the seasonal volatility ends, and after a breakout occurs on some lower timeframe.
From a regression standpoint, this bull pennant formed when price rose from the mean to the 1 standard deviation, and retraced to the 0.5 standard deviation. If it pans out, the measured move may reach one full standard deviation higher (to the 1.5 standard deviations). See below chart.
To learn more about the log-linear regression channel that I used here, you can check out my prior post that described it in more detail:
Obviously, anything can happen. Not trading advice. Please do your own research and trade at your own risk. If you disagree, I welcome respectful comments and charts below.
Disclosure: I have no trade position in LMT and do not plan to open any trade at the current time.
LMT - Stacking Time to BuyI am stacking LMT with another confirmed reversal, it's back about the 9 day MA, the 50 day, 100 day and 200 day all have a nice slope still. The RSI is above the 50 level and heading up. Stochastic shows upward movement, and the MACD is making a positive cross up (almost)
Stop Loss at 270 - Take Profit (don't know I'm holding for a while)
