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Lockheed Martin is the world’s largest defense contractor. It dominates the high-end fighter aircraft market, especially in the West. The company has tremendous moats due to the complexity of its products. Not only are such products highly technical, but they also have long product cycles. That means long-term contracts, maintenance service revenues, and high switching costs for the customer. Lockheed Martin has a long-growth runway given its dominant incumbent position in the defense industry.
The long term chart for Lockheed Martin shows a clear consistent uptrend. The most recent pullback in this uptrend occurred in early 2020 when the price fell by more than 40% and briefly went below the bottom of the long-term trend. Since then, the stock has been range bound and hovering around the 361 support-resistance zones. Currently, the price is near the bottom of the long-term trend as well as the 361 zones, making it a high-probability candidate for an upside breakout. The target can be 400 initially and then 440. A tight stop loss can be placed below the bottom of the long-term trend, around 345.
Position entered to our long term tracking portfolio today. The entry point is at $345.05 and stop loss $312.31 which is 9% below entry point. The short-term to medium take profit is set at $450 giving a profit of 31%.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.
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Information is provided ‘as-is’ and solely for informational purposes. Data provided mostly by way of video and images are of actions that have already taken place and are not for trading purposes or advice.
Stock Prices End-of-Day. Information is provided solely for informational purposes, not for trading purposes or advice, and is delayed.
