Lockheed Martin (LMT) stock may be oversold. Its RSI shows that the stock may be a little oversold. Additionally, a trend line shown above could provide support for the stock, but if it breaks may result in more decline. A modest rise in the S&P 500 tomorrow could allow this reversal to come into fruition.
Even though it has gained 100% within a month, it is not yet at the middle bollinger band. I still see some upside potential, but I believe a correction is due in the long run.
Through this chart, I see potential for SPY to reach prices of 414 only IF it breaks the trend-line, and will encounter heavy resistance of above 414 according to the selling volume at that price.
