novvoll12
Long

GD $138.75: Tests 5-month falling channel resistance

NYSE:GD   GENERAL DYNAMICS CORP
GD
15 0 0
gd
DD             extended the rebound off 130.91 ( April             13, 2015 weekly low) to test 5-month falling channel resistance (as shown on the weekly chart), reaching 140.19 ( April             29, 2015 high). Further strength above the latter is needed to confirm a bullish flag breakout pattern and bolster for 142.55 (February 16, 2015 weekly high) ahead of the 146.13 peak (November 24, 2014). The immediate support lies at 136.40 ( April             13, 2015 weekly high). Below rests the 130.91 key support.

Outlook:
Short term: buy on pullback
Long term: bullish
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