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Watch for Lockheed Martin to Potentially Pullback After Gaining 1.10% Yesterday

By James Quinn

Lockheed Martin (NYSE:LMT) traded in a range yesterday that spanned from a low of $348.84 to a high of $354.25. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $352.46 on volume of 328,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Lockheed Martin has traded in a range of $241.18 to $358.63 and is now at $352.01, 46% above that low. The 200-day and 50-day moving averages have moved 0.13% higher and 0.90% higher over the past week, respectively.

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 28.8%. 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