This is a monthly chart of the defense company Lockheed Martin (LMT).
As you can see, a bull pennant is appearing.
In my experience, I have found that the most valid bull flags or pennants usually retrace back to the Golden Ratio (0.618), then bounce and continue higher (see below chart).
When this occurs, the measured move up is typically one full...
Not happy about this one after false breakouts. Short TP 235, although maybe more. Note they have beat earnings estimated every quarter since 2013. This cannot continue.
