Lockheed Martin may rise to 633.00 - 642.00

Our pivot point is at 588.

Our preference

The upside prevails as long as 588 is support.

Alternative scenario

Below 588, expect 573 and 564.

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 above its 20 and 50 day moving average (respectively at 579.8915 and 564.8392).

Supports and resistances

651 **

642 *

633 **

624

605.13 (USD-last)

593

588 **

573 *

564 **

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