stock
Northrop Grumman Corp. NOC-N (Monday’s close US$618.52) traded in a horizontal range mostly between US$415 and US$495 from early-2023 to mid-2024 (dashed lines); it rallied above this range in late-2024 (A) but ran into resistance near the 2022 highs (shaded area). On Oct. 30, 2024 (US$495.36), we suggested a target of US$595. Northrop Grumman declined toward the bottom of the trading range in early-2025 on tariff announcements (B), then after a brief pause near resistance (C), the stock rallied to a high of US$619.71 to fulfill our target and confirm the breakout (D).
Behaviour indicators including the rising 40wMA (40-week Moving Average), confirm the bullish status. Only a sustained decline below US$550-570 would be negative.
Point & Figure measurements provide targets of US$640 and US$690. Higher targets are visible.
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart, courtesy of www.LSEG.com