Global Conflict Is Setting Up A Trade On Northrop Grumman (NOC) | The Mesh Report

Global Conflict Is Setting Up A Trade On Northrop Grumman (NOC)

Christian Tharp, CMT October 13, 2023 Comments Off on Global Conflict Is Setting Up A Trade On Northrop Grumman (NOC)

With all the geopolitics concerns around the world from the war in Ukraine to the conflict unfolding in the Middle East, defense stocks have seen a bit of a boost, for these unfortunate reasons. Among these names, there is one that sticks out from the rest as far as setups go and what we are watching for a potential trade.

For us, that trade comes from the setup on Northrop Grumman (NOC). The level we have our eyes on is 480 which has already been broken in the premarket, so this trade may be underway already, which could make time of the essence here. Since our long entry was on a break through 480, we should now wait to see if price holds above this level.

If there were to be a pullback we were waiting for it would ideally come at 460, which would also gives us a short play as well if this level gave way.

As long as the stock remains bullish, so does our trade on NOC… until it’s not, of course. When trading, you need to be sure you are using levels such as these not only for your entries, but for your exits and stops, as well.

The best traders in the world do not mindlessly enter and exit trades. They use levels to their advantage and allow them to guide their trading. Trading on bias or expectations is how many a trader has blown entire accounts faster than they can sign up for a trading account.

To be among the 10% of traders that succeed you need to think like the experts on Wall Street. Trade with these individuals rather than against them for long-term success in this or any market.

Learn even more about my trading strategy when you join The Profit Machine. There, I’ll teach you all about my favorite stocks, setups, strategies, and plenty more to make sure you can take your own trading to the next level. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

This year is drawing to a close, make sure you’re turning the corner on your trading to position yourself to win all 2024. Sign up today! Until then…

Good Luck With Your Trading!

Christian Tharp, CMT

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