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powerintegral

Short NOC (and the Defense sector in general)

Short
Northrop Grumman Corporation (NYSE:NOC)  
powerintegral  
NYSE:NOC   Northrop Grumman Corporation
defense short fibo over
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defense short fibo over
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.

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