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Watch for Lockheed Martin to Potentially Rebound After Falling 1.50% Yesterday

By Nick Russo

Lockheed Martin (NYSE:LMT) traded in a range yesterday that spanned from a low of $294.02 to a high of $301.71. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $299.18 on volume of 1.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Lockheed Martin has traded in a range of $241.18 to $361.99 and is now at $294.02, 22% above that low. The 200-day and 50-day moving averages have moved 0.13% lower and 1.20% 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 $270.68. Since that recommendation, shares of Lockheed Martin have risen 10.3%. 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