MoneyPatterns

LMT - Pattern Failure Feb-March 2020 - Another One

NYSE:LMT   LOCKHEED MARTIN CORP
THIS IS NOT READY FOR SHORTS/PUTS YET. I WILL UPDATE WHEN I ENTER

This is a great way to play the trend down and then long again on the way back up. :)

I am overall bullish on LMT and their business model. But this chart says it's due for a correction.
There is a series of charts I am finding with patterns which end mid-2020 which also coincides with 2yr/20yr inversion anniversary (March 2019).

Lockheed Martin has a fairly repeatable pattern here.
Longer term chart shows similar pattern, although these last two were very similar.
The pattern needs to be analyzed closer when the time comes to enter.

I will be looking to enter at failure of the current yellow wedge .
I expect this to be around February or March 2020. I will update the chart at this time.


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I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC , BTCUSD , GDX , and VIXY .
Short SPY , ROKU and AAPL .
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@Dmitry2027, You have been reported for violation of Terms of Use. Harassment.
Have a great day!

If you have a constructive comment that doesn't make you sound ignorant....feel free to comment.
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Once it corrects, I feel confident counting on this making its way back up. War is a racket, and their defense arm is a significant contributor to their bottom line. They had a 23% gain in quarterly sales in Q1 2019 vs Q1 2018.

https://www.bizjournals.com/orlando/news/2019/04/26/lockheed-martins-1q-earnings-swell-by23.html

With the world getting hot, I think their defense contracts will only increase in number and in size.

Looking forward more to this by end of Q1 2020.
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MoneyPatterns tuparkshakur
@tuparkshakur, They are one of the biggest weapons developers. Also for Space Force which Trump just signed this year.
Long term this would be great stock to hold in a portfolio....but I like options. Could do both. Long stock and Sell a Put. Double down so to speak.
I will update as we get closer. :)
+1 Reply
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