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After Yesterday's Rally of 1.38% Shares Could Potentially Pullback

By James Quinn

Lockheed Martin (NYSE:LMT) traded in a range yesterday that spanned from a low of $304.50 to a high of $308.16. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $304.68 on volume of 643,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Lockheed Martin have traded between a low of $228.50 and a high of $308.48 and are now at $307.73, which is 35% above that low price. The 200-day and 50-day moving averages have moved 0.31% higher and 0.74% higher over the past week, respectively.

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 15.7%. We continue to monitor LMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Lockheed Martin

Ticker(s): LMT