Impact

Million

Resistance

Force

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Lockheed Martin Corp’s stock price surged 0.55% in the last trading session and closed at $410.96.</a> </li> 
 <li> <span>2</span> <a>Lockheed Martin’s share (NYSE: LMT) price is following a descending channel pattern.&nbsp;</a> </li> 
 <li> <span>3</span> <a>Lockheed Martin Corp. secured a $52.6 Million Contract from the Air Force and a $23.3 Million contract from the US Navy.&nbsp;</a> </li> 
</ul> 
<p>Lockheed Martin Corp. stock price slumped nearly 4% in the last 1 week and currently hovering above a round level of $400. The price has slipped below the key moving average of 50-day EMA and 200-day EMA. The daily chart witnesses the formation of a descending channel pattern.&nbsp;</p> 
<p>Recently, Lockheed Martin Corporation has secured two contracts from the US Defence Force. One from the US Navy and the other from the US Air Force. The US Navy awarded Lockheed Martin a $9.2 Million contract modification for technology development. The total value of the contract is now $277.3 Million. The work will be done in Pennsylvania by Dec. 2, 2023.<br><br>The US Air Force contracted Lockheed Martin Corp. to provide three AN/TPS-77 multi-role radars for the Lithuania Air Force. The radars can detect and track various targets and threats. The contract also includes training, spares, and interim contractor support. The work will be done in New York and will be completed by Feb. 28, 2027. The contract value is $52.6 Million.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="548" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-996-1024x548.png" alt="" class="wp-image-172209" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-996-1024x548.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-996-300x161.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-996-768x411.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-996-750x402.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-996-1140x611.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-996.png 1460w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: barchart.com
  </figcaption>
 </figure>
</div> 
<p><a href="https://www.thecoinrepublic.com/2023/09/18/lmt-stock-broke-down-438-lockheed-martin-stock-turned-bearish/" target="_blank" rel="noreferrer noopener">Lockheed Martin stock</a> derivatives data analysis states that the current implied volatility in the market is 21.46% with an increment of 0.21% in the last trading session. The at-the-money strike price has 64 open contracts on the put side and 70 open contracts on the call side indicating the dominance of buyers at the current level.&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-lockheed-martin-stock-price-forms-a-declining-channel-pattern-strong"><strong>Lockheed Martin Stock Price Forms A Declining Channel Pattern&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="457" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-995-1024x457.png" alt="" class="wp-image-172208" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-995-1024x457.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-995-300x134.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-995-768x343.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-995-1536x685.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-995-750x335.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-995-1140x509.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-995.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: LMT 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/">TradingLMTiew</a>
  </figcaption>
 </figure>
</div> 
<p><a href="https://www.thecoinrepublic.com/2023/09/18/lmt-stock-broke-down-438-lockheed-martin-stock-turned-bearish/">Lockheed Martin stock</a> currently trades at $410.96 with a decline of over 4% in the last 6 sessions. The LMT share price may show some optimistic trends as the company has several deals with the US defense force which might Impact the Stock price.<br>Moreover, the stock price trades near the lower boundary of the descending channel pattern and a round level of $400. Hence it might show gains in the upcoming sessions.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-technical-indicators-signal-a-bearish-outlook-in-the-short-term-strong"><strong>Technical Indicators Signal A Bearish Outlook In The Short-Term</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="457" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-994-1024x457.png" alt="" class="wp-image-172207" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-994-1024x457.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-994-300x134.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-994-768x343.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-994-1536x685.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-994-750x335.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-994-1140x509.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-994.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: LMT 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/">TradingLMTiew</a>
  </figcaption>
 </figure>
</div> 
<p>The overall technical indicators including RSI and MACD opinion rating for the stock is a 90% sell with a strengthening short-term outlook on maintaining the current trend.&nbsp;&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Lockheed Martin Corp’s stock price has dropped by 4% in a week and is below the 50-day and 200-day EMA. The price is in a descending channel pattern near $400. However, the company has secured two contracts from the US Navy and the US Air Force worth $330 million for technology and radar development. The work will be done in Pennsylvania and New York by 2023 and 2027. The contracts may boost the stock price in the future.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $400.43 and $382.83.</li> 
 <li><strong>Resistance levels:</strong> $414 and $431.19.</li> 
</ul> 
<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 and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Lockheed Martin Corp. Secures $76 Contract: Can Effect LMT Stock?

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