$NOC Gap and Go? Watch List

This defense contractor may be ready to move to new high ground. I have made pertinent comments on the chart. If you were to pull up a weekly chart, you'd see that this formation is either the formation of a 1st stage base on base or a second stage base setting up. What does that mean? There is a better than normal chance that this stock still has a big move in front of it. All TBD. I'll have this on my watch list and will look for a logical entry where I can define my risk. My hope is it will move sideways for a few days and then start it's move to the upside. My stop would likely be below the low of the gap up day. There is also an area of resistance just above current price. Ideas, not investing / trading advice.

From earnings whispers in early April:

Northrop Grumman Beats

Northrop Grumman (NOC) reported 1st Quarter March 2021 earnings of $6.57 per share on revenue of $9.2 billion. The consensus earnings estimate was $5.48 per share on revenue of $8.5 billion. The Earnings Whisper number was $5.81 per share. Revenue grew 6.2% on a year-over-year basis.

Northrop Grumman Corporation is a security company providing systems, products and solutions in unmanned systems, cybersecurity; command, control, communications and computers (C4) intelligence, surveillance, and reconnaissance.