Let's check out the charts.
In the daily bar chart of LMT, below, we can see some bearish developments. Prices made a new high for the move up earlier this month but now we can see that prices are testing the May lows. LMT is below the declining 50-day moving average line as well as the declining 200-day moving average line.
Trading volume was heavy in March and pretty active this June. The On-Balance-Volume (OBV) line moved sideways from March to May and then moved up to a high before breaking its May low telling us that sellers of LMT have been more aggressive. The new low for the move in OBV line could be foreshadowing a new price low ahead.
The Moving Average Convergence Divergence (MACD) oscillator just moved back below the zero line for an outright sell signal.