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- 3/15/2024 -
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Lockheed Martin Corp. (LMT) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :Lane's Stochastic is overboughtMACD bearish divergencePrice is close to the 50 Day Moving Average
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It was a second consecutive positive week for the Lockheed Martin Corp. (LMT). During the week, the LMT climbed 2.92 points, or 0.67%, and closed at 435.82 on Friday, March 15, 2024. Weekly volume was -11% below average.

LMT is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See LMT long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 57.41 and reached 508.10 on April 18, 2023. LMT gained -450.69 points, or -785.04%, in 736 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 340.31 and resistance is at 584.16. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See LMT medium-term trend chart]
A medium-term downtrend had started on January 16, 2024 at 466.27 and reached 413.92 on February 14, 2024. LMT lost 52.35 points, or 11.23%, in 4 weeks. The price is now at the 41.83% retracement level.

Weekly Technical Indicators: [See LMT weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since January 26, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See LMT short-term trend chart]
A short-term uptrend had started on February 14, 2024 at 413.92 and reached 438.09 on March 15, 2024. LMT gained -24.17 points, or -5.84%, in 30 days. The price is now at the 9.39% retracement level.

Daily Technical Indicators: [See LMT daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since February 16, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.63
Williams' Percentage Range (W%R) 31.80
Lane's Stochastic (%D-Slow) 83.40
Overbought
Greed/Fear Indicator (GFI) 71.42
Moving Average Converg./Diverg. (MACD) -0.50 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.13
Williams' Percentage Range (W%R) 63.30
Lane's Stochastic (%D-Slow) 28.90
Greed/Fear Indicator (GFI) 37.44
Moving Average Converg./Diverg. (MACD) -3.21
Trading Signals
Description Value Chart
Upper Bollinger Band 439.38
50 Day Moving Average 436.31
Daily Stochastic Crossing 436.18
Price 435.82
20 Day Moving Average 430.94
Parabolic System 430.45
Weekly Stochastic Crossing 429.18
Lower Bollinger Band 425.39
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Aerospace & Defense 55
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 427.57
Low Date 03/08/2024
High 438.09
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 413.92
Low Date 02/14/2024
High 438.09
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 466.27
High Date 01/16/2024
Low 413.92
Low Date 02/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 508.10
High Date 04/18/2023
Low 393.79
Low Date 10/06/2023
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 584.16
Support 340.31
Low 57.41
Low Date 03/06/2009
High 508.10
High Date 04/18/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.