been watching LDOS for a bit. Leidos is basically a gov contractor, they do defense/tech/AI stuff mostly for DoD, NASA, intel agencies. not exciting but the contracts are long term so revenue is pretty predictable.
what got my attention is the chart. this thing was stuck between like 60-80 forever then just exploded in 2023 all the way to 180. now its down over 10% this month, sitting around 133. thats a pretty big pullback.
few things i'm looking at - monthly MA200 is still going up so i don't think the trend is broken yet. also the zone it dropped into used to be resistance for years before the breakout so it might hold as support now. defense spending isn't going anywhere with everything going on globally. they're also growing their AI gov contracts which is interesting.
risks tho - they're super dependent on US gov spending so any budget cuts would hurt. and honestly the monthly candle looks bad, no reversal signal on the weekly yet so this could keep going down short term.
i'm not in yet. waiting to see if weekly RSI turns and price stabilizes around here before doing anything. just on my watchlist for now
anyone else watching this or already have a position?
not financial advice obv