Thursday, December 19, 2019

Why Is Defense Contractor Lockheed-Martin's Stock Trading Like There's Going to Be a War? (LMT)

The handle of the cup-n-handle appears to have bottomed yesterday with the stock down $6.32.
Today the stock is up 1% ($3.80) at $384.37 and if (big if) the pattern plays out there could be 10 - 15% upside.
Here's StockCharts from Monday, we've been waiting to see how this develops.

Dissecting Last Week's 5 Trade Setups....And This Week's Setups 
December 16, 2019 at 08:34 AM
One week ago, I indicated that I'd have 5 trading candidates for anyone who signed up for a $7 30-day trial. It was similar to the Monday Setups that I had previously provided on MarketWatchers LIVE, the flagship StockCharts TV show that I had hosted for two years. Here's a quick look at how they performed and how I view them now:
LMT:

LMT remains in a very bullish cup with handle continuation pattern, so I expect a breakout and another surge higher in time. Last week, it was sent to EB.com members at 384.90. Current price: 386.47. Result: +0.41%. Intraweek highs were a bit higher, but wouldn't have added much in terms of gains....MORE
If the stock breaks out, and is doing what stocks do, seeing over the horizon, we may actually be looking at a shooting war. So, trying to stay ahead of the curve I am going to propose the Ramones Blitzkrieg Bop as our next theme song.
Here's a very fast (200+ beats per minute) cover:



If interested see also "Music and the Market: Song and Stock Volatility" for more on high-speed tunes.
We also have a link to Compressorhead's cover in "Automation Steals Jobs: Röböts Playing Motörhead"