Lockheed Martin shares hit a fresh all-time high on Friday, company announces partnership with Aerion over development of supersonic business jet

Lockheed Martin Corporation (LMT) said it was cooperating with Aerion Corp over development of the world’s first supersonic business jet. According to Aerion, the jet is expected to be operational by the year 2025.

Lockheed Martin shares closed higher for the sixth time in the past eight trading sessions on Friday. It has also been the sharpest daily surge since May 19th. The stock went up 1.83% ($5.81) to $322.82, after touching an intraday high at $323.38 and also a fresh all-time high.

In the week ended on December 17th the shares of the global security and aerospace company added 2.21% to their market value compared to a week ago, which marked a second consecutive period of gains. It has also been the best performance since the week ended on August 13th.

The stock has neutralized earlier losses and is now up 1.16% so far during the current month, following a 3.56% surge in November. The latter has been the fourth gain out of five months.

For the entire past year, Lockheed Martin shares rose 15.10%. The stock has gained another 29.16% so far in 2017.

In the upcoming year, the two companies are expected to plan all phases of the program, including engineering, certification and production of the Aerion AS2 jet.

According to Orlando Carvalho, head of Lockheed Martin’s aeronautic division, “new materials, new technologies are making civil supersonic flight a realistic near-term possibility.”

In an interview with Reuters, Carvalho also said that as many as 40 jobs might be created at Lockheed alone during the upcoming year in relation with the project.

According to CNN Money, the 21 analysts, offering 12-month forecasts regarding Lockheed Martin’s stock price, have a median target of $331.00, with a high estimate of $363.00 and a low estimate of $284.00. The median estimate is a 2.53% surge compared to the closing price of $322.82 on December 15th.

The same media also reported that 13 out of 24 surveyed investment analysts had rated Lockheed Martin Corporation’s stock as “Hold”, while 10 – 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 – $323.27
R2 – $323.73
R3 (Range Resistance – Sell) – $324.18
R4 (Long Breakout) – $325.54
R5 (Breakout Target 1) – $327.13
R6 (Breakout Target 2) – $327.84

S1 – $322.37
S2 – $321.91
S3 (Range Support – Buy) – $321.46
S4 (Short Breakout) – $320.10
S5 (Breakout Target 1) – $318.51
S6 (Breakout Target 2) – $317.80

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

Central Pivot Point – $320.37
R1 – $325.83
R2 – $328.84
R3 – $334.30
R4 – $339.76

S1 – $317.36
S2 – $311.90
S3 – $308.89
S4 – $305.88