Go long above 375
If LMT can get above and hold 375, which is the 61.8 retracement of the Feb 2020 correction, it will also break the upper trendline from the bull pennant formation.
Stop Loss at 339: It has held the .50 retracement at 341 from the Mar 2020 lows to the Jun 2020 highs, which is bullish. If it breaks this, the trade is wrong.
Profit targets: 417 (conservative) and 442 (aggressive).
If we get to 442, look for it to bounce off then retest to break all-time highs.
Stop Loss at 339: It has held the .50 retracement at 341 from the Mar 2020 lows to the Jun 2020 highs, which is bullish. If it breaks this, the trade is wrong.
Profit targets: 417 (conservative) and 442 (aggressive).
If we get to 442, look for it to bounce off then retest to break all-time highs.
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