Technical Pulse: Northrop Grumman Corp January 23, 2020 285


The bullish sentiment for Northrop Grumman (US: NOC) will come to a halt and head into a correction based on the technicals indicated.

  1. The stock struggled to break the resistance of 384.37 since its strong rally on 2nd Jan 2020.
  2. Bearish engulfing candle at the resistance 2 periods ago indicate selling pressure.
  3. Rising wedge formation indicates a bearish correction ahead.
  4. Based on momentum the indicators:
    • Stochastic oscillator is showing an overbought cross of the K and D line;
    • RSI shows a bearish divergence.


*Timeline of the technical call for NOC is between 1-2 weeks.

*The demand level near 340.00-348.92 is a potential rebound zone.



Stochastic Oscillator

Red line = Overbought Line

Green line = Oversold Line

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