My last post on Lockheed was here. From that post, the stock did not stay elevated enough to resemble the fours and fives I had been hoping to see, another clue that we’re not in good times. Furthermore, it has challenged its long-term rising channel, and another selloff will have it leave that structure.
It may now best be seen as a pattern of distribution (there are many out there), and the next immediate target is the lower green trend line which will inevitably fail at some point.
