Lockheed Martin may rise to 586.00 - 596.00

Our pivot point is at 534.

Our preference

The upside prevails as long as 534 is support.

Alternative scenario

Below 534, expect 516 and 506.

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 above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 517.0115 and 485.5902).

Supports and resistances

607 **

596 *

586 **

575

551.58 (USD-last)

541

534 **

516 *

506 **

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