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Defense stocks spiked Wednesday as U.S. and North Korean relations heated up, with Lockheed Martin (LMT), Raytheon and Northrop Grumman all hitting record highs. This is bullish from a technical perspective. In fact, a closer look at the weekly chart of LMT suggests that the stock has embarked on a rally that should test 320 at minimum but has overshoot target near 400. Just so that you know, initially profiled in our June 2, 2016 “Swing Trader BulletinLMT had gained about 29% and remained well position. Below is an update look at a trade in LMT.

The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges. As shown, the underlying is in a short-term bullish trend when the price bars are painted in green. The underlying is in a short-term bearish trend when the price bars are painted in red. The yellow bars identify period of neutral or sideways trading pattern. Additionally, the light-blue shading represents the short-term trading range. A move above or below that range is considered overbought (as represents by the red shading) or oversold (as represents by the dark-green shading). Readings above or below the red and green shaded areas are considered extremely overbought or extremely oversold.

Chart 1.1 – Lockheed Martin. (weekly)

Our “U.S. Market Trading Map” rates LMT as a Buy. The overall technical outlook remains Bullish. Last changed May 2017 from neutral. LMT has been on a tear in recent days following the early July breakout above the May sideways trading range. Money Flow measure surged to the highest level since last summer, indicating an increase in buying pressure. This is a positive development, supporting…Click here to read more.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

 

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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