Will the Rectangle hold or fail? Plot your targets on the chart.
Sideways movement between parallel supports.
Bearish continuation pattern.
Traders are watching Lockheed Martin (LMT) as price action tightens. The stock is trading at $611.58, down 1.31% on the day. Price action has carved out a classic Descending Triangle. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $593.88, targeting $501.29 with support near $637.92 (R:R 2.1).
What is your outlook on LMT?