$LMT Inverted H&S on Daily

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LMT Lockheed Martin has formed what appears to be a very clear inverted head and shoulders pattern on the daily chart over the last 3-4 months. Up nicely today after UBS initiated coverage with a Buy rating and $400 price target. Will be looking for a break through $330 level for confirmation. Another positive sign, the 50d ema is turning back north about to crossover the 200d.

Near term target - $336.50
Medium term target - $363.00 (previous all time high)




Note: Informational analysis, not investment advice.