Super long upward channel that has been running for about 4 years with perfect bounces of the Green MA ribbon, interesting to see many US government security provider charts looking similar
Northrop has been on a tear over the last 3 years as it continuously bases and and moves higher off support. Share prices has advanced since mid February, so look for a period of consolidation over $200 to provide a good entry point.
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. % waves completed, has reached the top of its risisng channel.
Excellent risk/reward on the short side, target near...
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.
The stock market has been on a roll again this year. It has moved up on a seemingly undeterred ascent all year, aside from a bit of a hiccup it suffered in January. Whatever has been thrown at these markets, they always seem to shrug it off as people come in and buy any short-lived dips. One sector that has not really participated in the party has been the defense...
