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Bullish Moving Average Cross by Lam Research (LRCX)

By David Diaz

Lam Research (NASDAQ:LRCX) shares have crossed bullishly above their 10-day moving average of $98.50 on a volume of 251K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Lam Research has traded in a range of $61.20 to $102.44 and is now at $98.94, 62% above that low. Over the last five market days, 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 24.3%. 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

Ticker(s): LRCX