Lockheed Martin (LMT) was cut to "hold" by Vertical Research on Friday. Let's check out the charts of this key defense contractor.
In this daily bar chart of LMT, below, I can see a chart that has become stalled. Prices rallied sharply in October but then turned sideways from November. LMT has broken below the rising 50-day moving average line by moving sideways. The slower-to-react 200-day moving average line is still in an upward path and intersects around $440.
The On-Balance-Volume (OBV) moved up in October and then slowed in November before stalling in December. LMT needs more aggressive buying to continue to see price gains. The Moving Average Convergence Divergence (MACD) oscillator crossed to the downside in November and is now just slightly above the zero line.