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Bullish Moving Average Cross by Lockheed Martin (LMT)

Published on Thu, 06/27/2013 - 11:26
By Robert Cotter

Lockheed Martin (NYSE:LMT) shares have crossed bullishly above their 10-day moving average of $106.22 on a volume of 954K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Lockheed Martin (NYSE:LMT) defies analysts with a current price ($107.13) 5.6% above its average consensus price target of $101.09. The stock should find initial support at its 50-day moving average (MA) of $103.48 and further support at its 200-day MA of $94.78.

In the past 52 weeks, shares of Lockheed Martin have traded between a low of $83.15 and a high of $109.26 and are now at $107.13, which is 29% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

Lockheed Martin Corporation is a global security company that primarily researches, designs, develops, manufactures, and integrates advanced technology products and services. The Company's businesses span space, telecommunications, electronics, information and services, aeronautics, energy, and systems integration. Lockheed Martin operates worldwide.

By Robert Cotter
rcotter@fnno.com