• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Lockheed Martin (NYSE:LMT)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lockheed Martin (NYSE:LMT) based on the price action in the company's shares. Today's price range of $360.14 and $360.78 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Lockheed Martin may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 3.2% for shares of Lockheed Martin based on a current price of $360.52 and an average consensus analyst price target of $372.18. Lockheed Martin shares have support at the 50-day moving average (MA) of $335.95 and additional support at the 200-day MA of $311.32.

Lockheed Martin share prices have moved between a 52-week high of $363.33 and a 52-week low of $241.18 and are now trading 49% above that low price at $360.52 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.3%.

Lockheed Martin Corporation is a global security company that primarily researches, designs, develops, manufactures, and integrates advanced technology products and services. The Company businesses span space, telecommunications, electronics, information and services, aeronautics, energy, and systems integration. Lockheed Martin operates worldwide.

SmarTrend recommended that subscribers consider buying shares of Lockheed Martin on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $270.67. Since that recommendation, shares of Lockheed Martin have risen 34.0%. We continue to monitor LMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle Lockheed Martin

Ticker(s): LMT