Dec. 25 at 1:28 PM
Actionable Trade Alert for
$LMT:
Market Context:
$LMT is currently trading at
$485.75, with an RSI of 77.5 indicating overbought conditions. However, the price is above both the 30-day MA (465.16) and 50-day MA (472.41), suggesting strong upward momentum. The recent 60-day high is
$516.0, providing a potential resistance level.
Directional Bias: The high RSI indicates caution, but the price action above key moving averages signals bullish strength. Given the proximity to the 60D high, a pullback may occur, creating a buying opportunity.
Trade Plan:
- Suggested Entry:
$485.75
- Stop Loss:
$470.00 (below the 50-day MA)
- Take Profit Targets:
1.
$500.00 (3% gain)
2.
$510.00 (5% gain)
3.
$570.00 (17% gain)
This plan allows for a solid risk-reward ratio while targeting significant upside potential. Monitor the price action closely for any signs of reversal.
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