Northrop Grumman Corp tests resiostance

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Source: Dukascopy Bank SA


The United States defence company Northrop Grumman Corporation has been trading each quarter depending on their financial results. Most recently, the stock dropped as low as 426.50. Following the drop, the price has recovered. On March 20, the stock reached a trend line that has acted as resistance since late 2022.

A move above the trend line is expected to encounter resistance in prior high levels. Namely, the 485.00 and 500.00 levels have acted as resistance and kept the price down throughout the recent past.

In the case of a decline, the 460.00 level and the combination of the 50 and 200-day simple moving averages are expected to act as support to the firm's stock price.
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