We haven't covered L-3 Communications (LLL) for more than a year, but with all the attention being paid to the defense industry by President Trump and others another visit with the charts seems in order.
In this daily chart of LLL, below, we can see that the rising 200-day moving average line has been a very effective tool. A test of the rising 200-day line in November and again in January looks like great buying opportunities.
Currently LLL is above the rising 50-day moving average line with the MACD oscillator giving us a cover shorts buy signal.
In this three-year weekly chart of LLL, above, we can see that prices broke out on the upside in 2016 after about a two-year sideways consolidation. Prices are above the rising 40-week moving average line and the weekly OBV line is positive. The MACD oscillator has been above the zero line since March and looks poised for a fresh go long signal.
This Point-and-Figure chart of LLL, above, looks pretty amazing -- a long uptrend followed by a big consolidation pattern and breakout. Prices have consolidated again and a trade up to $162 will be another breakout and give us a potential price target of around $217. It will take a breakdown below $145 to turn the charts bearish.