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JerryManders
Sep 19, 2023 3:57 PM

560 by early October Short

Lam Research CorporationNASDAQ

Description

LRCX is about to make a major break into bearish territory - right side of red/yellow line

- initial target is 560 on 10/3/2023 (black trajectory)
- goal target is 520s by end of October 2023

Stop loss is a sustained break above the green trajectory

Comment

Wouldn't be surprised if LRCX is trading at 521 on October 11th 2023.

Comment

Updated initial target is the following:

*** LRCX will be trading in the range 586-595 on 10/5/2023

From there I'm expecting 2 possible scenarios:

1) consolidation in the range of 595-615 before making next leg down to 550 - the updated goal target is 550 rather than 520 for end of October

2) breakdown of 586 and then drop to 567-582 range by 10/13 before consolidating and then making final move to 550 still by end of October

- Stop loss is a close above 641
Comments
MyCryptoParadise_Nathan
Your analysis provides a clear and actionable trading idea for LRCX, and traders can use this information as part of their overall strategy. Keep up the good work, and best of luck with your trading!
JerryManders
JabezDolz
Check out his last LRCX post lol, I don’t think he needs any advice. Just say “thank you for the free money”
TheLeadingIndicator
I think that more text and fewer trend lines might be a winning combination.
JabezDolz
@TheLeadingIndicator check out his last LRCX post, I don’t think he needs any advice lol. Just say “thank you for the free money”
JerryManders
@TheLeadingIndicator, @JabezDolz thanks Jabez lmao, always defending me... but Leading, this is just my style. Follow this post!
TheLeadingIndicator
@JerryManders, OK, so I checked out many of your other thumbnails (whether we like it or not, that's how folks choose which ideas to survey), and some are better than this one. With all due respect, though, "just my style" is no incentive to read your work ... I know 'cuz I'm in the same boat and making good sense at a glance and creating a good title are hurdles we all face. Anyways, I hope your trades work out in your favor. Cheers.
mudunsa
Still on track to hit target? Looks like it broke above your green line ...
JerryManders
@mudunsa, yes it will hit
mudunsa
@JerryManders, Thanks. In heavy puts for end of the month!
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