novvoll12
Long

GD $138.75: Tests 5-month falling channel resistance

NYSE:GD   GENERAL DYNAMICS CORP
gd
14 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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