Bearish Moving Average Cross by Lam Research (LRCX)
Today, shares of Lam Research (NASDAQ:LRCX) have fallen below their 10-day MA of $93.80 on a volume of 138K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Lam Research has traded in a range of $61.20 to $95.77 and is now at $93.42, 53% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.
SmarTrend recommended that subscribers consider buying shares of Lam Research on May 24th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.55. Since that recommendation, shares of Lam Research have risen 19.7%. We continue to monitor LRCX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses lam research