NOC swing trade idea

23 apr 2023

NOC reports on Thursday. It's still 15% off of its ATH. It's been in an uptrend and putting in HL and HH's this year. They beat on revenue and EPS last quarter. There have been a lot of down revisions to estimates, while NOC has a strong history of beating estimates.

I'm setting up for a short term trade that assumes a beat. Entry at $472. Targeting overhead resistance at the 200SMA and the top of the gap from the Jan 12 drop to take profit. Setting a stop at $462, which is 1 20 period ATR below the 0.382 of the current extension.

https://www.tradingview.com/x/enbx63Hd/

LMT