News Image

Indications Suggest NYSE:LMT Could Be on the Verge of a Breakout.

By Mill Chart

Last update: Apr 19, 2024

A possible breakout setup was detected on LOCKHEED MARTIN CORP (NYSE:LMT) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:LMT.

LMT Daily chart on 2024-04-19

What is the technical picture of NYSE:LMT telling us.

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Taking everything into account, LMT scores 7 out of 10 in our technical rating. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, LMT is a bad performer.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • LMT is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so LMT is lagging the market slightly.
  • In the last month LMT has a been trading in a tight range between 439.33 and 459.30.

Our latest full technical report of LMT contains the most current technical analsysis.

How do we evaluate the setup for NYSE:LMT?

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:LMT is 9:

Besides having an excellent technical rating, LMT also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 464.31. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 455.20, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NYSE:LMT?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.

Back

LOCKHEED MARTIN CORP

NYSE:LMT (5/24/2024, 7:04:00 PM)

After market: 467.35 0 (0%)

467.35

+0.27 (+0.06%)

LMT News

News Image2 days ago - InvestorPlaceBulletproof Your Portfolio: 3 Defense Stocks to Own Now

These defense stocks to buy all are doing quite well financially, but their shares haven’t benefited nearly enough.

News Image3 days ago - The Business JournalsFormer New Mexico congresswoman joins Lockheed Martin board
News Image4 days ago - Zacks Investment ResearchLockheed Martin (LMT) Wins Contract to Aid Missile Production

Lockheed (LMT) is set to provide systems engineering, test planning and long lead material to support missile production.

News Image4 days ago - Zacks Investment ResearchLockheed Martin (LMT) Advances While Market Declines: Some Information for Investors

The latest trading day saw Lockheed Martin (LMT) settling at $469.71, representing a +0.3% change from its previous close.

News Image4 days ago - Lockheed Martin CorporationLockheed Martin Elects Heather Wilson to Board of Directors

/PRNewswire/ -- Lockheed Martin (NYSE: LMT) today announced its board of directors has elected Dr. Heather Wilson to the board, effective today. "Dr. Wilson's...

News Image5 days ago - BloombergChina Hits 12 US Military Companies With Symbolic Sanctions

China sanctioned 12 American military companies and ten defense executives in retaliation against US arms sales to Taiwan and measures against Chinese firms accused of supplying Russia in the Ukraine war.

News Image5 days ago - InvestorPlace7 Long-Term Stocks to Buy Now: May 2024

While anything can happen in the markets from day to day, over the long-term, these seven long-term stocks to buy should prosper regardless.

News Image5 days ago - Zacks Investment ResearchHere is What to Know Beyond Why Lockheed Martin Corporation (LMT) is a Trending Stock

Recently, Zacks.com users have been paying close attention to Lockheed (LMT). This makes it worthwhile to examine what the stock has in store.

News Image7 days ago - The Motley FoolHow Northrop Grumman, Lockheed Martin, and Boeing All Lost a $30 Billion Air Force Contract

Predator-maker General Atomics and defense stock IPO candidate Anduril just beat out three of the U.S.'s biggest defense contractors.

News Image10 days ago - InvestorPlace7 Value Stocks to Buy and Hold for a Decade of Dominance

Discover the enduring value of seven key value stocks to buy and hold in diverse sectors, presenting unparalleled opportunities.

News Image11 days ago - InvestorPlace7 Blue-Chip Stocks to Protect Your Wealth as the Economy Slows

These are the low-beta blue-chip stocks to buy, as they represent fundamentally strong ideas with robust cash flow potential.

News Image11 days ago - CNBCHow much money the U.S. spends on war

American military spending reached $916 billion in 2023, which accounts for more than a third of the world's total military expenditure.

LMT Links
Follow us for more