Know This Trade Level For This Major Defense Stock

Most of the leading defense stocks topped out in late April 2018. Since that pivot top, many of the leading stocks in the defense sector have declined by 10.0 percent or more. Raytheon Co (NYSE:RTN) is a stock that has now caught my eye. This stock is now testing its 200-day moving average. A failure to hold this key support level should signal another decline in the stock. The next major support area that will come into play will be around the $188.00 level. This is where RTN stock broke out of a sideways base in January 2018. A retest of this important level will likely be defended by the institutional money crowd. This is where I would look to enter a long position in the name. Some other leading defense companies that I follow include Lockheed Martin Corp(NYSE:LMT), General Dynamics Corp (NYSE:GD) and Northrop Grumman Corp (NOC:NYSE). These defense stocks are also on my radar for trading opportunities.