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It’s been great 2 plus months for Lockheed Martin (LMT). Following its last earnings report, the stock has basically gone nuclear. Heading into its July report, the stock was down under $475. From there, the rally has now taken things over $600 to the $605.86 level it closed at today. In the after-hours session, the stock continues to be bid.

News keeps dropping left and right about government contracts the company has secured. $422 million for integrating the Czech Republic into the F-35 Joint Strike Fighter program, $3.23 billion for air-to-surface standoff missiles, $358 million added to a now $1.1 billion Foreign Military Sales missile procurement, $3.9 billion for Trident II D5 missile production and $321 million for a US Missile Defense contract from the DoD. That wasn’t a year full of announcements, it was all in the last 4 trading days.

Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.

Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.

Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.

Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.

Dave Bartosiak's technical analysis approach adds depth to our understanding Lockheed Martin’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.

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