Northrop Grumman (NOC) has climbed higher and higher from its late December nadir. Prices have not doubled this year, but they look capable of it. Let me show you the charts.
In this daily bar chart of NOC, below, we can see that prices are above the rising 50-day moving average line and well above the rising 200-day moving average line.
There is a bullish golden cross in May and the daily On-Balance-Volume (OBV) line shows a rising trend with a recent new high to confirm the price strength.
The Moving Average Convergence Divergence (MACD) oscillator is bullish and rising which tells us that the trend strength is good.
In this weekly bar chart of NOC, below, we can see that prices are above the rising 40-week moving average line.
The weekly OBV line has been going up for the past three years and the MACD oscillator on this longer time frame is bullish.
In this Point and Figure chart of NOC, below, we can see the uptrend this year with a number of consolidation patterns along the way. A $478 price target is being projected. I don't know if the fundamentals support that high of a price but the Point and Figure "count" does.
Bottom line strategy: New and existing longs should raise stop protection to $339.