Lockheed Martin aims at high level range

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The US aeronautics and defence company Lockheed Martin has been all over the news for a couple of years due to various countries increasing defence spending. In general, LMT is selling the world rockets and fighter jets. However, the increased demand has not resulted in a broad surge.

Since the initial pop up in early 2022, the firm has been trading between 400 and 500. Each quarter, the firm has announced bad or good financial results that set the tone for the next three months. Most recently, in early 2024, it found support in a range near $420.00 and started a recovery. On March 26, the recovery broke above the 200-day simple moving average.

The ongoing surge could face resistance in the late 2023 and early 2024 high level range at 460.00/468.80. Higher above, the 480.00 mark could act as resistance, before the 500 is reached.

In the case of a decline, the 200 and 50-day simple moving averages could act as support. In addition, the 440.00 level has shown to be capable of impacting the stock price. Below these levels, the 414.90/420.60 range is expected to once again act as support.
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