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drchelsea1
Aug 20, 2020 2:30 PM
LRCX - Lam Research - $357.50 Nice Long Term Entry
Long
NASDAQ:LRCX
30
Lam Research Corporation
NASDAQ
Description
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Aug 20, 2020 2:30 PM
0. Notes to follow;
1. Sitting at bottom of Channel, may head back up in coming days;
Comment
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Aug 21, 2020 2:03 AM
2. Stock held the $357.50 at the bottom of the Channel;
3. LRCX hasn't spend more than 4 trading days at the bottom of the Channel since March;
4. Watch for a rebound or breakdown in the next few days; Tight stops if you have options, or don't want to tie up cash;
5. We would be surprised by a sustained move below $350 here, and would add to our position;
Comment
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Aug 21, 2020 2:04 AM
6. We think a run to $400 in the next 3 to 4 weeks is the likely move.
7. To be continued...
Trend Analysis
Technical Indicators
Beyond Technical Analysis
Comments
TrinityAlex
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Aug 20, 2020 2:39 PM
Do you know why did it go down today so much?
drchelsea1
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Aug 20, 2020 3:03 PM
@TrinityAlex
, Who knows. Profit taking if I had to guess, but if you see news, please let us know. We can't locate any news here, just a nice run to the top of the Channel, that may have signaled selling...
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