Lockheed Martin Stock in Bullish Trend - Key Levels to watch

Lockheed Martin (LMT) Stock in Strong Bullish Trend - Key Levels to Watch

Lockheed Martin's (LMT) stock is currently exhibiting a well-defined bullish trend, trading near a recent higher low that may serve as a crucial support level for the next upward move. The defense giant continues to benefit from robust global military spending and a strong contract pipeline, positioning the stock for potential further gains.

Technical Structure & Key Levels
- Higher Low Support: The current price zone represents a critical support area where buyers have previously stepped in, maintaining the upward trajectory
- Upside Targets:
- Near-term: $490 (previous resistance zone)
- Long-term: $600 (potential breakout extension)
- Major Support: $375 would act as strong demand zone if any deeper pullback occurs

Bullish Catalysts Supporting the Trend
1. Defense Sector Strength:
- Record US defense budget allocations for 2024-2025
- Increased NATO military spending amid global tensions
2. Contract Backlog:
- F-35 program continues to drive revenue
- Hypersonic weapons and space systems development
3. Technical Momentum:
- Price trading above key moving averages (50/200 DMA)
- Higher highs and higher lows confirm uptrend structure

Trading Strategy Considerations
- Optimal Entry:
- On bounces from current support level
- On breakout above $460 confirmation
- Risk Management:
- Stop-loss below $375 for longer-term positions
- Partial profit-taking near $490 resistance
- Confirmation Signals:
- Volume increase on upside moves
- Sustained closes above $460

Potential Risks to Monitor
- Geopolitical shifts affecting defense budgets
- Program delays (particularly in F-35 production)
- Broader market corrections impacting defense sector

Long-Term Outlook:
The combination of fundamental strength and technical positioning suggests LMT could progress toward $490 near-term, with $600 as a viable long-term target if the bullish structure holds. Traders should watch price action around current levels for continuation signals while remaining mindful of the $375 support as a critical level for the bullish thesis.