Now Defense is Really Ready

A couple of weeks back I noted that Defense is Defending Itself. These stocks were not yet ready to move higher but looked as if they had stopped running lower. Now with some time under their wings they are looking ready to take off. Here are three to watch soar.

Lockheed Martin, $LMT

Lockheed Martin, $LMT, has been creeping higher towards resistance at 84 and the top of the Bollinger bands. With a rising Relative Strength Index (RSI) and a Moving Average Convergence Divergence (MACD) indicator that is positive and growing more so, there is plenty of support for a move higher. Look for a move over 84 as an entry.

Northrop Grumman, $NOC

Northrop Grumman, $NOC, is consolidating at the 50 and 100 day Simple Moving Averages (SMA) after a gap higher off of the bottom at the 200 day SMA. The RSI and MACD are both supportive of a move higher on this name as well. look for a move over 60 to enter.

Raytheon, $RTN

Raytheon, $RTN, is already moving higher and through the 50 day SMA. Use that as a stop and get on board. The RSI and MACD are both strong and support more upside. The next resistance is at the previous high at 54.69. Above that a Measured Move takes it to 66.44. Instrument flight rules.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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