Lockheed Martin shares hit a fresh record high on Thursday, company receives enhanced laser technology contract

A $26.5 million contract award has reportedly been given to Lockheed Martin Corporation (LMT) by the United States Navy in relation with production of Enhanced Laser Guided Training Rounds.

Lockheed Martin shares closed higher for a fifth consecutive trading session on Thursday. The stock edged up 0.38% ($1.12) to $295.82, after touching an intraday high at $295.90 and also a fresh all-time high. In the week ended on July 30th the shares of the global security and aerospace company added 0.45% to their market value compared to a week ago, which marked a fourth consecutive period of gains. The stock has extended its advance to 1.26% so far during the current month, following a 5.23% surge in July. The latter has been the sixth gain out of seven months and also the sharpest one since February. For the entire past year, Lockheed Martin shares gained 15.10%.

Under the contract, enhanced laser technology production is extended into late 2019. The agreement encompasses a base year order as well as options for 4 additional years.

According to CNN Money, the 19 analysts, offering 12-month forecasts regarding Lockheed Martin’s stock price, have a median target of $300.00, with a high estimate of $340.00 and a low estimate of $265.00. The median estimate is a 1.41% surge compared to the closing price of $295.82 on August 3rd.

The same media also reported that 12 out of 22 surveyed investment analysts had rated Lockheed Martin Corporation’s stock as “Hold”, while 9 – as “Buy”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Lockheed Martin stock are presented as follows:

R1 – $296.10
R2 – $296.39
R3 (Range Resistance – Sell) – $296.67
R4 (Long Breakout) – $297.53
R5 (Breakout Target 1) – $298.52
R6 (Breakout Target 2) – $298.95

S1 – $295.54
S2 – $295.25
S3 (Range Support – Buy) – $294.97
S4 (Short Breakout) – $294.12
S5 (Breakout Target 1) – $293.12
S6 (Breakout Target 2) – $292.69

By using the traditional method of calculation, the weekly levels of importance for Lockheed Martin Corporation (LMT) are presented as follows:

Central Pivot Point – $289.55
R1 – $292.93
R2 – $295.45
R3 – $298.83
R4 – $302.21

S1 – $287.03
S2 – $283.65
S3 – $281.13
S4 – $278.61