• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Lam Research (NASDAQ:LRCX)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Lam Research (NASDAQ:LRCX) based on the price action in the company's shares. Yesterday's price range of $200.28 and $206.42 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Lam Research may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 12.7% for shares of Lam Research based on a current price of $202.57 and an average consensus analyst price target of $228.38. The stock should find initial support at its 50-day moving average (MA) of $78.71 and further support at its 200-day MA of $74.19.

Lam Research Corporation manufactures, markets, and services semiconductor processing equipment used in the making of integrated circuits. The Company's products are used to deposit special films on a silicon wafer and etch away portions of various films to create a circuit design. Lam sells its products around the world.

In the past 52 weeks, Lam Research share prices have been bracketed by a low of $79.15 and a high of $219.70 and closed yesterday at $202.57, 156% above that low price. 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 January 4th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $195.00. Since that recommendation, shares of Lam Research have risen 3.9%. We continue to monitor LRCX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle lam research

Ticker(s): LRCX