As you all know LLL is merging with Harris. The merger should complete soon, maybe as soon as the EOM. As I look at this stock it seems that we have just completed a 5 wave up since the announcement. I believe the recent dip reflects some big profit taking. In my opinion it looks like it could hit the mid 250s one last time. Once it gets there I am out of this...
Sellers enter the market @ price action
Stoch first flash of oversold
MACD showing double top, reversion to mean, aka convergence
Fast/Slow ichi line flatline, decrease in volatility
Go and go turning into gap to retest
T/P 197.33 (gap to fil)
Earnings July 26
Thats a thin cloud below, so if she breaks...watch...
MACD biased downtrend with expanding divergence
Price actions looks to break below the cloud and you know what that means.. ;)
enter at or above 197, gap to fill on the open 4 hour 6/19/2018
but this looks like a falling knife
Puts 185 @ 1.49 - 1.70$
Puts 180 @ .75-1.05$
July 18 monthly
M&A candidate look at books and recent news!
Buying L-3 here. It has pulled back from its all time high of 161.91 made on dec. 7th. Demand zone highlighted in yellow at former resistance level which should now act as support. Give stop loss a few cents of wiggle room.
Stop Loss: $151.25
LLL is right on a support area. Which was an important top of the market. This Stock is cycling in 21- to 22 days from bottom to bottom or from top to bottom. we next to a support area in time, and already in a support area in price.
Also , we do have the connors RSI in a buying area.
I have my start to go in the trade. My stop is 3% below the initial entry and...