I got a good hit on my last earnings play which I didn't post TRV so I'm going for one on this.
Put Spread $232.50/220 Cost per spread was 4.36 Holding 2 spreads. Nov 8 exp
We will see what happens. Looks like a small bearish divergence. God speed.
Entry level $246 = Target Price $264 = Stop loss $242
Bullish sentiment and fundamentals.
Bullish setup for another step higher.
Completely depends on market strength and trade, at this level trade short term.
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 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.