Lockheed Martin may rise to 596.00 - 607.00

545 is our pivot point.

Our preference

The upside prevails as long as 545 is support.

Alternative scenario

The downside breakout of 545 would call for 527 and 516.

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 positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 534.777 and 493.0316).

Supports and resistances

618 **

607 *

596 **

586

560.29 (USD-last)

552

545 **

527 *

516 **

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