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L-3 Communications (LLL) Crosses Pivot Point Support at $76.32

Published on Thu, 02/21/2013 - 10:45
By Peter Chu

Shares of L-3 Communications (NYSE:LLL) opened today below their pivot of $77.11 and have already reached the first level of support at $76.32. Should the shares continue to fall, the support pivots of $75.64 and $74.17 will be of interest.

L-3 Communications Holdings, Inc. is a prime system contractor in aircraft modernization and maintenance, Command, Control, Communications, Intelligence, Surveillance and Reconnaissance (C3ISR) systems, and government services. The Company's customers include the DoD, aerospace prime contractors, and commercial telecommunications customers.

There is potential upside of 3.2% for shares of L-3 Communications based on a current price of $76.43 and an average consensus analyst price target of $78.86. The stock should hit resistance at its 50-day moving average (MA) of $77.31, as well as support at its 200-day MA of $73.14.

Over the past year, L-3 Communications has traded in a range of $66.46 to $79.80 and is now at $76.43, 15% above that low. The 200-day and 50-day moving averages have moved 0.05% higher and 0.06% higher over the past week, respectively.

By Peter Chu