truetradero
Short

Short NOC (and the defense industry in general)

NYSE:NOC   NORTHROP GRUMMAN CORP
The whole Defense industry is extremely overbought in all time frames, even in monthly. Stocks are reaching important long term Fibo projections.

NOC             is making no exception, showing RSI bearish divergence and declining volume in parabolic rise. % waves completed, has reached the top of its risisng channel.

Excellent risk/reward on the short side, target near $167, even $135 possibly.
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