Is Lockheed Martin the Best Defense Stock to Buy After Middle East Attacks?

It’s been great 2 plus months for Lockheed Martin (LMT). Following its last earnings report, the stock has basically gone nuclear. Heading into its July report, the stock was down under $475. From there, the rally has now taken things over $600 to the $605.86 level it closed at today. In the after-hours session, the stock continues to be bid.News keeps dropping left and right about government contracts the company has secured. $422 million for integrating the Czech Republic into the F-35 Joint Strike Fighter program, $3.23 billion for air-to-surface standoff missiles, $358 million added to a now $1.1 billion Foreign Military Sales missile procurement, $3.9 billion for Trident II D5 missile production and $321 million for a US Missile Defense contract from the DoD. That wasn’t a year full of announcements, it was all in the last 4 trading days.Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.Dave Bartosiak's technical analysis approach adds depth to our understanding Lockheed Martin’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lockheed Martin Corporation (LMT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks