$LRCX gapping up on earnings beat. I think this may pop at open back to the 188-189 area before pulling back to fill the gap down possibly to the 181ish area. After the fill down I would go long and play this back to the upside for a nice move back towards highs. Should make for a good swing if you want to hold it. Just give it room to come down before...
Lam Research is a stock on it's way up. The prominent analysts have set the price target as high as $275. This price looks like it is bouncing off support until it can jump past the resistance. Increased value from the growth of sales is one thing this company has on it's side. The books of LRCX look better YoY, only showing a couple weaknesses, i.e. in a...
LRCX has been beaten to death by analysts over last month or 2. I think they've finally got it down to a level they like. Strong day today so far and I think we will continue to see this run now that the MACD finally crossed on the daily. Earnings are this month I think well see a nice run and surge after earnings.
This is a follow-up for the sell-off in-LRCX. The first chart was published on July 3rd.
The July 3rd forecast, based on 8 indicators, was down. There were other reasons I thought the stock would decline. There was a bearish “shark” pattern. This is the “W” formation I highlighted on the chart above.
A “W” formation could be a bearish shark, Gartley,...
Basic Trading Techniques Explained (For This Example I Charted-LAM RESEARCH)
I believe LRCX-is a failing stock. If you consider shorting-LRCX, be careful. It is at a key support level. I have prepared this tutorial for you for two reasons: to keep you from losing money in a bad position, and to allow you to set up a chart of your own.
1. Establish the direction...
Lam Research once again delivers an earnings report that beat expectations, but without raising guidance. Once again, just like after the last earnings report, this lead to a dip in the stock price.
Buy the dip somewhere below $200 - look out for reversal patterns on when to jump in.
Lam Research (LRCX) delivered strongly in their Q4 earnings report, but the stock has since tumbled almost 10%.
The market for semiconductors is not going anywhere...
Target: give it to your grandchildren, or at least until processors using silicon fall out of favor.
SOXX and SOXL are also good ways to get some exposure to LRCX and the semiconductor market.
-->Looks to be breaking resistance at $215. Strong earnings will likely allow the price to break through.
-->Hit support early today around $208
Indicators & Overlays:
-->MACD looking to cross over close to 0
-->DMI+ looking to cross over DMI- in an upward trend
-->RSI showing resistance at 40 and moving upward back to the 80 range