India-Pakistan tension: F-16 fighter jet maker Lockheed Martin share price remains flat in a month. Buy, hold, or sell?
Lockheed Martin share price: The maker of F-16 fighter jets prized by Pakistan, Lockheed Martin, has witnessed a subdued stock market trend in the last one month, with the scrip remaining largely unchanged following India's successful competition on Operation Sindoor.
Lockheed Martin share price in the last one month hit the lowest level of $449.18, declining over 3% in trade that day. As of the last close, Lockheed Martin stock price was at $476.90, down 0.8%. In the past one month, the F-16 fighter jet maker's stock has eked out a 0.79% return.
The US-listed stock has been on the back foot following the four-day conflict between India and Pakistan, wherein India thwarted all attempts by the latter to attack its key military bases and other areas of strategic importance.
Pakistan had deployed the F-16 fighter jet, along with J-10, drones and missiles during this period, albeit without much success. Analysts believe this move could impact its order book going ahead.
Lockheed Martin is forming a 105-day-long bullish cup and handle pattern, but the base lacks significant institutional accumulation, said Anshul Jain, Head of Research at Lakshmishree Investments.
'To sustain and target $540, a breakout above $485 must be supported by strong price action and high volumes. Failure to hold above $460 will trap premature longs, likely triggering a swift decline towards $400. Traders should remain cautious and act only on confirmed breakouts with volume support,' Jain added.
Tensions between India and Pakistan had escalated after the Indian Armed Forces launched 'Operation Sindoor' in the early hours of May 7, targeting terrorist infrastructure in Pakistan and Pakistan-occupied Jammu and Kashmir (PoK).
This operation was a retaliatory response to the April 22 terror attack in Pahalgam, Jammu and Kashmir, which resulted in the deaths of 26 civilians, including one Nepali national.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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