General Dynamics Corp

By root | May 14, 2007 AAA

For today's chart we've chosen to take a look at General Dynamics (NYSE:GD) because it is trading within an ascending channel pattern. As you can see from the chart below, the bulls have managed to prevent the stock from falling below the trendline, which will be used by traders to suggest that the uptrend is likely to continue. GD is currently in an interesting position because it is testing the resistance of the December high, which if the price is able to move above, would be used by traders to signal a sharp increase in momentum.

We'll keep a bullish outlook on this stock until we see the bears step in a push the stock below the support of the lower trendline (currently near $78). To learn more about this pattern see the article, Channeling: Charting a Path to Success

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