Lockheed Martin may rise to 591.00 - 602.00

Our pivot point is at 539.

Our preference

As long as 539 is support look for 591.

Alternative scenario

The downside breakout of 539 would call for 521 and 510.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 551.2335 and 503.9912).

Supports and resistances

613 **

602 *

591 **

580

555.01 (USD-last)

546

539 **

521 *

510 **

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