Northrop Grumman: the bounce meets distribution

At week 11 of the sell signal on Northrop Grumman Corp., the trade is up 19% from entry. The week closed with a 1% bounce and buy-side volume back at 67%, but a double bottom pattern in the 535 area on the daily chart introduces a note of caution. The underlying technical structure remains in distribution: the week-by-week reading still points to an ongoing decline.