Lockheed Martin Corporation LMT shares are trading lower by $10.30 (3.8 percent) at $249.23 in Monday's session. President-elect Donald Trump instigated a selloff in the issue when he tweeted that the F-35 program and cost is out of control.
So far, the high and low for the session were made in the first three minutes of the session. After a lower open ($251.78 vs. Friday's close of $259.53), it managed a brief bounce to $252.33 before resuming its move lower.
The quick decline did find support at $246.18, which puts it in a lightly traded area created from its big jump after the Trump victory. It ended the session on November 8 at $239.19 and traded no lower than $250.00 before ending its November 9 session at $253.46.
Since making that low, its rebound has been capped at $250.21 as of 11:00 a.m. EST.
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