Will General Dynamics $GD recapture 200-day SMA?

Ticker: $GD
Highlight: Is $GD going to stage a bullish breakout now that it appears to retake its major support?


Summary: General Dynamics have been trading below its major support, 200-day simple moving average since it sank below it in May this year.  Since then, it has been a bears' game with a couple of bullish attempts to stage a run to the upside but to no avail.  Starting September, $GD bulls have been consistently pushed the price to higher highs and held it to lower lows.  At the moment, it now sits at or within a strike below its 200-day simple moving average which is a promising set up for bulls.  There also appears to have an increasing activity which may help the price stay the bullish course.

Trading plan:  I will open a propely sized position with a stop loss at 200-day moving average minus 2x ATR.  The two possible outcome is $GD could hold its major support and stage a bull run or I will get stopped at a predetermined loss.


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