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Recent 52-Week High Exceeded in Shares of Lockheed Martin (LMT)

By Amy Schwartz

Shares of Lockheed Martin (NYSE:LMT) traded at a new 52-week high today of $273.00. This new high was reached on below average trading volume as 198,000 shares traded hands, while the average 30-day volume is approximately 1 million shares.

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

Over the past year, Lockheed Martin has traded in a range of $181.91 to $273.00 and is now at $272.79, 50% above that low. The 200-day and 50-day moving averages have moved 0.31% higher and 0.74% higher over the past week, respectively.

Potential upside of 3.5% exists for Lockheed Martin, based on a current level of $272.79 and analysts' average consensus price target of $282.42. The stock should find initial support at its 50-day moving average (MA) of $223.55 and further support at its 200-day MA of $215.04.

SmarTrend recommended that subscribers consider buying shares of Lockheed Martin on February 14th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $262.51. Since that recommendation, shares of Lockheed Martin have risen 3.6%. We continue to monitor LMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Lockheed Martin

Ticker(s): LMT