Over the last couple of weeks, buyers stepped up and bought shares of Ratheon, Northrup and L3Harris. These three companies recently completed bids on a 144 satellite wide array contract(s) that are to be awarded in December. Speculation is that the project is so large, all three will receive significant work from the government.
Due to recent price action, we are anticipating the bullish trend in Lockheed Martin (LMT) will continue on its current leg towards 365.00 (+/-). The stock is up (+1.87) in early trading.
Click to enlarge charts.
Note the price action in March 2021 was very similar (rectangles) as price rose back its 9/21d moving averages. Those moving averages in March, like now, turned higher, supporting a bullish trajectory.
The Brazilian multinational aerospace manufacturer produces commercial, military, executive and agricultural aircraft, and provides aeronautical services.
In July, Embraer disclosed that “Canadian regional airline Porter Airlines has ordered 80 E195-E2 jets” worth about $5.82 billion. They are expected to launch in the second half of 2022 and fly to the U.S., Mexico and the Caribbean. – Source Investors Buisness Daily