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Lockheed Martin reaches DOW agreement for F-35 contract: Will LMT hold the MA-200?
Lockheed Martin reached a new agreement with the DOW for a multiyear F-35 contract, designed to strengthen their partnership and deliver significant cost savings. The stock is up 5.6% on the day at $582.45.
Highlights
- Lockheed Martin and the DOW agreed on a multiyear F-35 contract structured to generate substantial taxpayer savings.
- Shares of Lockheed Martin are up 5.6% on the day at $582.45.
- 31 of 86 analysts rate Lockheed Martin stock a buy, with a median price target of $620.
Lockheed Martin reached a new agreement with the DOW to pursue a multiyear contract for the F-35. The company said the new contract is structured to save billions in taxpayer dollars. The deal is also intended to reinforce Lockheed Martin's longstanding partnership with the DOW.
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Bullish structure holds as price gaps up and RSI nears overbought
Lockheed Martin stock opened the session with a significant gap up from the previous close of $551.51 to $579.51. The price remains above its MA-20, MA-50, and MA-200, reinforcing the bullish structure on the daily chart. An RSI reading of 63.6 indicates the move is becoming stretched to the upside, showing early signs that further gains may be limited. The nearest support stands at MA-200 at $565.4.
Upside odds dominate as traders watch for a close above range
To determine whether the move is being fully accepted, traders should watch for a close above the recent range, which would show that buyers are prepared to sustain the advance. Lockheed Martin shares started the session with a gap up from $551.51 to $579.51, highlighting strong upward interest at the open. From here, despite a sustained move higher with a firm trend over the past week, the probability of further upside over the next five trading days is 71%, while downside risk stands at 29%, with an expected range between $572.52 and $592.37. A close above the recent range would confirm buyers' commitment, but a drop below $565.4 would indicate the move is being faded. On the weekly chart the longer-term picture stays constructive.
Earlier, analysts noted that Lockheed Martin's technical outlook was constructive following strong earnings and major defense contract wins. The latest agreement for a multiyear F-35 contract with the DOW adds to this positive framework, and traders should monitor for a sustained close above the recent range to confirm continued upside momentum.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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