LCRX - Target $350 AFTER EARNINGS1. Stock consolidating and rising nicely in pattern;
2. $60 Height on Flag ($350 Target)
3. IBM just reported and that company is up $5;
4. This is going to $350;
5. End of Story;
Jan 21
Comment: Earnings January 22nd along with, XLNX, and TXN. Should be a nice day, Then INTC on deck on Thursday for the real show.
LRCX trade ideas
Lam Research looks overdone. $lrcxTime to ring the register and wait for lower entry.
Momentum downtrending and in bearish divergence to price.
RSI in downtrend and showing significant bearish divergences.
Stock has ran 25% since breakout, profit taking innevitable.
Major fibonacci extension target hit and price rejected.
Lam Research Reaches all time high, Bullish but cautious. Although the stock is hitting a all time high, caution is needed to avoid been the last to the party. Indicators are high and there is a decrease in volume. For a very healthy breakout, expect a test of support and them a spike in volume, those conditions would provide a better entry level.
LRCX SnapbackLRCX has recently broken out of a triple bottom pattern and has now ran for four days and has become overextended as well as running up into old resistance at the $208 level. I expect a snapback to the 200 level being that its overextended into resistance. Will sell once it connects with the 9EMA again. Earnings is next week so looking to only hold for a week.