This morning, leading defense stock Lockheed Martin Corp (NYSE:LMT) is plunging lower by $4.88 to $177.94 a share. The stock seems to be declining with other companies in the defense sector today. Swing traders must now be aware that today's sell off in Lockheed Martin Corp stock should lead to further declines in the near term. The next major support level for Lockheed Martin Corp stock will be around the $171.00 level. This is an area where swing traders can look for a bounce in the stock. Traders should note that this support level is where the stock broke out to the upside in mid-August. Often, prior breakout levels will serve as important chart support when initially tested. Nick Santiago InTheMoneyStocks
If Lockheed's stock goes down further then I would have to hold off on buying one. Lockheed seems to be making some poor choices that is affecting their stock shares for their investors.
Ok so what's with this forum bringing up these old threads into my "new posts" section? Has been happening a lot lately. But hey, LMT is (once again) looking very interesting so might as well talk more about this. I do not hold a position and the only reason is that I'm already quite heavily invested into the defence sector. But if I do need another company then it could very well be LMT.
