This is my analysis for Northgrop Grumman Corporation, also known as NOC and is a stock in which I am extremely bullish and wanted to over the reasons why. First, as we focus on the 1HR time frame for this stock, we have an inverse head and shoulders pattern that has nicely formed - and is currently forming a wedge out of the pattern (an extremely bullish indication of price movement upwards within the next couple days). Furthermore, to support this, we can see how RSI is forming a healthy bullish trend gaining strength as we can see multiple “W” patterns of confirmation in RSI (circled on chart) all of which further support my bullish stance. I love this position and it is one I wanted to share with you guys, please let me know any thoughts!
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