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2 rallying defense stocks amid Israel-Hamas conflict

2 rallying defense stocks amid Israel-Hamas conflict
Ana Zirojevic

While the long-standing animosities in the Middle East have escalated this weekend with a large-scale Hamas-led terrorist attack on Israel, it is no surprise that defense and military-related stocks are in high demand, and even the United States congressional leaders have not been immune.

Indeed, among such stocks, two have particularly stood out as potentially very lucrative investments from a technical perspective at this point in time, both suggesting a bullish uptrend, at least in the short term, as of October 10.

CrowdStrike Holdings (CRWD)

Specifically, CrowdStrike Holdings (NASDAQ: CRWD) has recently risen above its 20-day moving average (MA), surpassing a key support level, and hitting a new 52-week high on October 9, according to the observations by stock market reporter Evan, a.k.a. StockMKTNewz.

CrowdStrike price chart. Source: Evan (StockMKTNewz)/YCharts

At press time, the share price of the cybersecurity company known for assisting the US government in military cyber espionage investigations stood at $181.73, which suggests a growth of 2.9% in the last 24 hours, an increase of 8.67% across the previous five days, and a 9.22% gain over the month.

CrowdStrike Holdings 30-day price chart. Source: TradingView

Taking into account the above price data, the company’s positive earnings estimates, and the fact that it currently ranks third at Zacks Rank (‘hold’), it means that the CRWD could, indeed, be on the brink of another significant upward movement.

Lockheed Martin (LMT)

At the same time, the stock of the security and aerospace company Lockheed Martin Corp (NYSE: LMT) has continued its steady rise, and co-founder of digital asset analytics platform Reflexivity Research, Will Clemente, referred to it as “the real winner of the war,” given its recent gains in particular.

Lockheed Martin price analysis. Source: Will Clemente/TradingView

As things stand, LMT was at press time trading at $436.53, suggesting an increase of 8.93% on the day, gaining 7.15% across the week, in addition to growing its value by 3.77% over the previous month, according to the most recent charts retrieved on October 10.

Lockheed Martin 30-day price chart. Source: Finbold

Currently, Lockheed Martin’s intrinsic value, as calculated by the Discounted Earnings model, is $520.59, with a margin of safety at 16.15%, and ranking as better than 77.78% of 27 companies in the aerospace and defense industry at the moment.

Meanwhile, the United States Congress members have been buying up military-related stocks, primarily those of defense company General Dynamics (NYSE: GD), followed by Exxon Mobil (NYSE: XOM), Devon Energy (NYSE: DVN), and Chevron (NYSE: CVX) as the favorites, as Finbold reported on October 9.

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