Lockheed Martin, F22 going for a a landing correction

LMT has been a raging bull for a period of time and based on the technicals, the stock is believed to be heading into a bearish correction towards the indicated support level.

-Rising wedge formation
- Bearish engulfing at the TOP of the trend
- Stochastic overbought
- RSI bearish divergence

Kommentar:

Lockheed Martin has indeed reach our short sell target price at the support level. Timely rejection of support is evident that LMT is still heading for long term bullish.