Lam Research Bearish Moving Average Crossover Alert (LRCX)
Today, shares of Lam Research (NASDAQ:LRCX) have crossed bearishly below their 10-day moving average of $97.86 on a volume of 621K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Lam Research share prices have been bracketed by a low of $61.20 and a high of $102.44 and are now at $97.30, 59% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 0.57% higher over the past week, respectively.
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 25.6%. 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