Defense Contractors Flying High Again

In the wake of the Paris atrocity and increased efforts for military presence in Syria and the middle east in general, you can expect a rally in government contractor stocks. Pictured are three government contractor ETFs: XAR             , ITA             , and PPA             .

Notice the big rally today, suggesting buying pressure. This is confirmed via the OBV indicator. We see a lot of resistance from below via the Ichimoku cloud . For profit targets consider the level from the high of 11/04, or the fibonacci levels anchored at the high of 8/18 and the low of 9/29.

For stop losses, consider the boundary of the Ichimoku cloud , and the fibonacci levels from below.
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