LMT rises to highest close since April 5th
Lockheed Martin Corporation (LMT) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
LMT finished Monday at 345.70 gaining $3.10 (0.9%). Today's closing price of 345.70 marks the highest close since April 5th. Closing above Friday's high at 345.06, the stock confirms its breakout through the prior session's high having traded $2.68 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (LMT as at Apr 16, 2018):
Monday's trading range was $3.19 (0.92%), that's far below last trading month's daily average range of $7.46. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 343.70. Prices are trading close to the key resistance level at 349.03.
The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
With prices trading close to this year's high at 360.97, upside momentum might accelerate should the market be able to break out to new highs for the year. Further buying could move prices higher should the market test March's nearby high at 353.58.