Lockheed Martin may rise to 558.00 - 568.00

Our pivot point is at 507.

Our preference

The upside prevails as long as 507 is support.

Alternative scenario

The downside breakout of 507 would call for 491 and 481.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 476.567 and 469.637). Finally, Lockheed Martin has crossed above its upper daily Bollinger band (518.75).

Supports and resistances

578 **

568 *

558 **

548

524.8 (USD-last)

514

507 **

491 *

481 **

Number of asterisks represents the strength of support and resistance levels.