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SmarTrend Watching for Potential Rebound in Shares of Lockheed Martin After 1.85% Loss

By Shiri Gupta

Lockheed Martin (NYSE:LMT) traded in a range yesterday that spanned from a low of $369.43 to a high of $375.32. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $373.33 on volume of 412,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Lockheed Martin have traded between a low of $241.18 and a high of $381.51 and are now at $369.92, which is 53% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

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 $270.68. Since that recommendation, shares of Lockheed Martin have risen 39.4%. 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