General Dynamics Could Come in for a Landing Soon

We reviewed the charts and indicators of General Dynamics (GD) back in early March. At the time we said, "From 2014 to into 2016 GD traded back and forth around the $140 level. It would not be a big surprise to see GD double from this large consolidation pattern. A double of $140 would give us $280 as an upside target. I would risk below $180 for new longs."

Eight months later and prices reached $215 but shy of our $280 price target. Prices turned from up to sideways in June and GD has been testing the rising 200-day line in recent weeks. A close below the 200-day line may not precipitate a decline but a close below $193.55 will put many longs "under water" and then selling is likely to increase. Now that I have your attention, let's review our charts and indicators....196 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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