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- 1 Lockheed Martin Corp. LMT stock price has been falling from the $480 level.
- 2 LMT shares have slipped below the 20, 50, 100 and 200-days daily moving averages.
- 3 An American firm with operations across the globe, Lockheed Martin Corp. (NYSE: LMT) specializes in aircraft, weapons, defense, information security, and technology.
LMT stock price may rebound as it approaches the demand zone, and may bounce back towards the $460 recovery level. LMT share price must accumulate buyers in order to revert back towards the upper recovery level. However, sellers have been trying to pull LMT shares from the $480 level to the demand zone. LMT shares must gather support at the current level in order to surge back above $450 primary resistance. Investors in Lockheed Martin Corp. (NYSE: LMT) need to wait for any directional change over the daily time frame chart.
LMT stock price was at $448.64 and has lost 0.92% of its market capitalization during Thursday’s trading session. Trading volume is above average, showcasing the accumulation rate of sellers. This demonstrates that sellers may try to pull LMT shares towards the demand zone, but buyers need to come forward for the rescue.
Will LMT Stock Price Rebound Now?
LMT stock price must accumulate buyers as it approaches the demand zone over the daily time frame chart. LMT shares must attract buyers in order to sustain and revert back towards the recovery level. However, LMT shares have slipped below the 20, 50, 100 and 200-day DMAs.
LMT share price has been consolidating inside the horizontal range-bound area over the daily time frame chart. LMT shares have been consolidating inside the price range of $442 and $467. Now, analysts speculate LMT shares may recover from the lower price range of the consolidation phase to surge towards the upper threshold of the consolidation phase. Meanwhile, if LMT stock price sustains at the upper threshold, it may experience significant growth from up to the $480 mark.
Nevertheless, LMT stock price decreased by 0.88% in a week and 0.92% in a month. Moreover, LMT shares slipped by 3.48% in the last three months and 2.65% in the last six months. Also, LMT share price dropped around 7.19% year-to-date. This confirms 2023 has been tough for LMT shares till now.
Technical indicators highlight the downtrend momentum of LMT stock price – relative strength index (RSI) and moving average convergence divergence (MACD) are not giving positive signals on LMT.
The RSI showcases the downside trend of LMT shares. RSI was at 40 and is heading towards the oversold territory. The indicator has been under the zero line for the past 5 days.
MACD exhibits the downward velocity of LMT share price. The MACD line is below the signal line after a negative crossover. Investors in Lockheed Martin Corp. (NYSE: LMT) need to wait for any directional change over the daily time frame chart.
Summary
As it enters the demand zone, the LMT stock price may rebound and return to the $460 recovery level. Sellers, on the other hand, have been attempting to move LMT shares from the $480 level towards the demand zone. The price of LMT shares has been stabilizing between $442 and $467. Technical indicators indicate the LMT stock price is in a decline. Lockheed Martin Corp. (NYSE: LMT) investors should watch for any directional changes on the daily time frame chart.
Technical Levels
Support Levels: $445 and $442
Resistance Levels: $455 and $465
Disclaimer
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Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
