Northrop Grumman has fared worse than any other S&P 500 stock over the first few weeks of 2023. The company is scheduled to report Q4 earnings on Jan. 26. The industry’s downturn began on Jan. 6 when new House speaker Kevin McCarthy discussed slashing the defense budget. So far, the Street is holding firm except for Goldman Sachs as the lone bear Northrop Grumman (NYSE: NOC ) has recently faced heavy artillery. No S&P 500 stock has fared worse than the global defense contractor over the first few weeks of 2023. Not surprisingly, social media chatter around Northrop Grumman is on the rise. Traders are debating whether the -17% year-to-date decline is an opportunity or a sign of more to come. While you’re there, swing to the Chart tab for a visual perspective of where the stock has been — and, more importantly, where it could be headed, powered by TradingView, the chart has an extensive library of technical indicators, metrics, and strategies that can help create a winning edge. For instance, adding the Relative Strength Indicator (RSI) on the daily chart reveals that Northrop Grumman has reached extreme oversold levels . The Bollinger Band indicator also suggests the […]
Is the Northrop Grumman Selloff an Opportunity to Buy?
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