LHX is below the 200 W Moving Average. Mostly rated as a Buy or Strong Buy with upside of $269 – $443 (average 12 month forecast is $340-$365).
Technical analysis: If it holds around this pricing point, we would be looking for a bounce off the 61.8% Fibonacci retrace. It’s iffy. There is a bearish divergence on the daily pointing to a potential upward movement in volume. The weekly doesn’t look great, it just looks like a risk. Almost like catching a knife. Still bearish at this moment.
Fundamentals, well. The CEO exit was unexpected and tumultuous. Several firms recently downgraded ratings. Profit taking in the sector has not helped. But I see upside, and it’s a risk I’m betting on.
If this wasn’t on your radar, it’s cheap (but could get cheaper), put it on the watch list.