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.
Strong PA sell off last few days to Mid BB%
Looking for quick reversal to mean back higher.
Aiming for 180/175 Put Credit & 185 Call option for Directional bias higher.
Exp Aug 16.
Good Luck - Watch YOUR RISK.
It is quite surprising that today was not more of a massacre for the chip/semi sector , bargain hunters stepped in just after the open to buy up what the algos were selling and weak hands were selling. It really was not much of a surprise that AVGO had a negative outlook, what did anyone expect? Apple , Huawei and Trump is all that needs to be considered, until...
On EVERY analysis I've done Lam Research is only going to go up. 2019 is going to end up being a great year for Lam. The only way it will drop past my support is if something truly catastrophic occurs (which I doubt). A supplement to this gain is the fact that Taiwan Semiconductor (NYSE: TSM) has signaled vastly improved smartphone strength. Overall, watch the...
The chip/semi sector is on fire and that plays into the hands of LRCX, very positive commentary and upgrades galore has completley turned this sector around from a dismal 2018 in which the lead the market lower. Lam has plenty of room left to run.
Looking for good, small sized plays for new/struggling traders. Consider feb22 175p on $LRCX. Currently @ 181.33. Looks prime for pullback. Slightly O/E RSI, shooting star on Daily chart, run from 120's to 180's since Dec. & no meaningful selling volume in weeks. #OptionsTrading
LRCX has an important technical pattern. The stock chart is technically precise. Lines drawn on a weekly chart match perfectly to daily support levels. This is not always the case. The technical precision of certain areas of this chart shows where the professionals have entered and exited. The ability to see the footprints of Dark Pools and Professional Traders is...