United

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>General Dynamics’ stock price closed at $224.01 with a loss of -0.72% during the last intraday session.</a> </li> 
 <li> <span>2</span> <a>GD stock price rises above 20, 50, 100, and 200-day EMAs.</a> </li> 
 <li> <span>3</span> <a>The year-to-date return of General Dynamics is -9.62% while the three-month return is 7.06%.</a> </li> 
</ul> 
<p>GD stock price has been in a strong bullish trend, forming higher lows, since the formation of a support level at $204 in May. The stock price surged nearly about 12% from the $204 level. However, the price has started to retrace and might be correcting the bullish move.&nbsp;</p> 
<p>The bullish move seems to be halted at $225.80 and the price might retrace forming a strong support to rise further. The candle of 3 August closed as a bearish candle and the last candle was able to break the low providing slight confirmation regarding a bearish move.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/1FvIq_DQeXXgk3MkBAnkkneU3KxA7Is_HgNFOhWKYWdnNYZe0SmNAgp6DP1Dapn17du3aPYinxEkq_zu7keEtcOTMbiOlk9yRnJal-vr2zXMoMakvvbtYcqXt7BNghD-BRUxdfieXVMkhgjSw4xaWeE" alt="General Dynamics (GD Stock): Price Enters Into Corrective Phase"> 
  <figcaption class="wp-element-caption">
    Source: GD Stock Price By <a href="https://www.tradingview.com/x/5dMHHKpo/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>If the next candle is successful in breaking the low of the last candle, the price might head toward the next support level of $20. The bullish momentum is strong and the current retracement might just be a pullback.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-quarter-2-results-outperformed-estimates-strong"><strong>Quarter 2 Results Outperformed Estimates</strong></h2> 
<p>The Q2 earnings results fueled the bullish momentum which was released on 26 July. The consensus estimated the earning per share to be $2.56 while it turned out to be $2.70, a surprise of $0.14. The revenue was estimated to be $9.455 Billion but it turned out to be $10.152 Billion.&nbsp;</p> 
<p>The company’s product innovation strategy should strengthen its footprint in the business jet market significantly. GD is expected to begin the delivery of G800 by 2023 and G400 deliveries by 2025.</p> 
<p><a href="https://www.thecoinrepublic.com/2023/07/19/general-dynamics-corp-gd-stock-do-defense-deals-boost-rally/" rel="noopener noreferrer nofollow">General Dynamics</a> has a strong solvency position. A solid backlog of $87.63 Billion at the second quarter’s end indicates that the demand for the company’s product has increased significantly. The marine systems submarine programs in 2023 have risks in the supply chain which might be a concern for the company.</p> 
<p>The company’s financial performance can be affected by prevailing geopolitical uncertainty. If there is a decrease in United States government spending, it would impact General Dynamics’ financial results.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-will-gd-price-retrace-toward-20-strong"><strong>Will GD Price Retrace Toward $20?</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/a1Fz3WdIUQomdT7vpHsOJ2npS-OI5ZnlwAL9KKI7DrlYOj9mMJdzVR2HlAQ4frR-VXgklaiMM9z-1WTP7lulriEa5SxtFXurfFqFTHMo7AaFYbMnzyGxpzKfoOpQcZg1UDeOdOfWC1re6CepvnaCgAs" alt="General Dynamics (GD Stock): Price Enters Into Corrective Phase"> 
  <figcaption class="wp-element-caption">
    Source: GD Stock Price By <a href="https://www.tradingview.com/x/UCKp9lB7/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/07/19/general-dynamics-corp-gd-stock-do-defense-deals-boost-rally/" rel="noopener noreferrer nofollow">stock price</a> trades above 20,50,100 and 200-day exponential moving averages, indicating bullish momentum. Chaikin money flow score has been hovering over the 0 mark since 13 July and currently stands at 0.14 suggesting strength in the market.&nbsp;</p> 
<p>The relative strength index took a downturn after reaching near the 70 mark and stands at 62.24, implying that the price is still in bullish momentum but is downward sloping. The bears have started to enter the market and the price needs to form a support.&nbsp;</p> 
<p>The price reached the upper band of Bollinger and experienced a short-term pullback. The 20-day SMA might act as support for the price.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Technical parameters suggest the possibility of retracement toward $220. The market structure and price action are bullish but the price faced rejection from the $226 level.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<p>Major support: $204 and $213</p> 
<p>Major resistance: $226.80 and $230.30&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

General Dynamics (GD Stock): Price Enters Into Corrective Phase

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Thecoinrepublic.com

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