DirtyDan99

Lockheed Martin (LMT) Symmetrical Triangle

Long
NYSE:LMT   Lockheed Martin Corporation
LMT has been consolidating within this range 380-397 for about two weeks now, although yes a symmetrical triangle can result in either up or downward moves, Im willing to bet we see a continuation in its current price pattern up until it meets resistance at the Fibonacci extension/resistance of 402.50 which would be over a 4% move from the apex of the triangle, it will most likely need more time to consolidate but current market conditions have been rather bullish, so I'm hoping for a pre mature break from this pattern, I'm looking at June 18 402.5 calls. Will update if anything changes.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.