Momentum

Resistance

Million

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>The LMT stock is rallying upwards after receiving a gap-up from major support.</a></li>
 <li><span>2</span> <a>Lockheed Martin Corporation (NYSE: LMT) stock’s trading volume is above the moving average and the 52-week price range is around $381 – $508.</a></li>
</ul>
<p>At press time, Lockheed Martin Corporation (NYSE: LMT) stock price was $449.18 with an intraday minor gain of 0.70%. It is trading above the major EMAs, showing positivity on the charts. Moreover, the intraday trading volume of LMT stock is 2.012 Million higher than the 10-day aggregate volume of 1.624 Million.</p>
<p>According to Lockheed Martin Corporation, the stock price has been rising since March 2020 as per the price action displayed on the chart. LMT rallied from the $266 support level by making higher highs and lows which resulted in an uptrend and reached $508 on April 2023 but at high it faced resistance as investors took profit booking due to earnings reports.</p>
<p>However, the stock has shown a reversal sign as the LMT price took support at a crucial level of around $395 and surged with a gap up on the charts in the first week of October 2023. According to the price action, it seems that the LMT stock is ready for a significant increase, with potential growth in price for the upcoming sessions.</p>
<p>Therefore, if buyers prevail at the upper levels more, the LMT stock might surge strongly from the current level and surge above. The possible targets may become $456 and $466.&nbsp;</p>
<p>On the contrary, if LMT stock fails to prevail over the upper levels and selling pressure increases, then it might breach $442 and $432.&nbsp;</p>
<p>In addition, the 1-year price forecasts for LMT stock by 20 analysts range between $364.00 to $550.00.</p>
<p>The latest quarterly earnings report of LMT for the quarter ending in September 2023 showed that the company had a strong performance, surpassing the expectations of the analysts. The LMT reported revenue of $16.88 Billion, which was 0.87% higher than the estimated $16.73 Billion.&nbsp;</p>
<p>LMT also showcased that the net income generated by the stock was $1.68 Billion, with a profit margin of 9.98%, which has showed improvement from the past quarter, and it is noticed that in the last couple of earnings reports the stock’s revenue increqsed from a good number.&nbsp;</p>
<p>Also, the earnings per share (EPS) was $6.77, which was 1.53% higher than the estimated $6.67. The Lockheed also announced its projections for the next quarter, expecting a revenue of $17.96 Billion and an EPS of $7.26. The LMT next earnings report will be released on January 30th, 2023.</p>
<h2 class="wp-block-heading" id="strong-will-lmt-stock-continue-rallying-upwards-strong"><strong>Will LMT Stock Continue Rallying Upwards?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/VRs6QwnLMELn5xqXAXuX6DIFp97SzSoIQqXXEf2nK-w6vpVB2l-gOJnBItpkPcjScQ4HVugMz9_PvKxKO7DS1FioFbzB3zrPcVuZi3oZmaM1rvVh-heUE8u3ziw8iZ2GZYR3aQ613e9QQEYYgTl5lkk" alt="LMT Stock Forecast: Will Upward Momentum in (NYSE: LMT) Continue?">
  <figcaption class="wp-element-caption">
   Source: NYSE: LMT by TradingView
  </figcaption>
 </figure>
</div>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/sOVml8LfEG0uL_d0gTs8IQ_kVgRM4zBo1fTKnSNIfGjU1DAVRAy7TfpYXXjQbUgSNB4uJmnV8fe_S9YsUYhGSvoe8rKXsWDrq0db_I2m9ZBjwwCuPUXhxpNczRUrr4xIplbW2RwIJn5aoeyCAdOfMTU" alt="LMT Stock Forecast: Will Upward Momentum in (NYSE: LMT) Continue?">
  <figcaption class="wp-element-caption">
   Source: NYSE: LMT by TradingView
  </figcaption>
 </figure>
</div>
<p>Currently, <a href="https://www.thecoinrepublic.com/2023/10/15/lmt-stock-gaining-momentum-ahead-of-q2-results-what-next/" rel="noopener noreferrer nofollow">LMT stock</a> is trading above the 20 and 50-day exponential moving averages, supporting the price momentum. This shows that buyers are aggressive and might be ready to surge the LMT price higher and aim to make a new peak in the upcoming sessions.</p>
<p>Therefore, if buying volume accumulates heavily, then the price might support bullish momentum by making higher highs and new highs and conquering upper levels. Hence, the LMT price is expected to move upward giving a bullish outlook over the daily timeframe chart.</p>
<p>The current value of RSI is 67.51 points. The 14 SMA is above the median line at 49.85 points which indicates that the LMT stock is bullish.</p>
<p>The MACD line at 4.96 and the signal line at 0.2833 are above the zero line. A bullish crossover is observed in the MACD indicator which signals strength in the momentum of the <a href="https://www.thecoinrepublic.com/2023/10/15/lmt-stock-gaining-momentum-ahead-of-q2-results-what-next/" rel="noopener noreferrer nofollow">LMT stock</a> price.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>The technical analysis tools like MACD, RSI, and EMA point in an upward direction, showcasing the rally continuation in the next sessions.</p>
<p>The traders and investors are positive on the LMT stock as from the last couple of quarter earnings reports, the company’s revenue is increasing. It is a positive sign for the stock.</p>
<p>The price action of LMT showcases strength on the chart and is ready for a rise in the upcoming sessions.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels</strong>: $442 and $432</p>
<p><strong>Resistance Levels</strong>: $456 and $466</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

LMT Stock Forecast: Will Upward Momentum in (NYSE: LMT) Continue?

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