• Return to Headlines

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

By James Quinn

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 $139.94 and $142.70 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.

Lam Research share prices have moved between a 52-week high of $167.05 and a 52-week low of $79.15 and closed yesterday at 80% above that low price at $142.53 per share. The 200-day and 50-day moving averages have moved 0.05% lower and 0.57% higher over the past week, respectively.

There is potential upside of 17.8% for shares of Lam Research based on a current price of $142.53 and an average consensus analyst price target of $167.94. 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.

SmarTrend recommended that its subscribers protect gains by selling shares of Lam Research on June 12th, 2017 by issuing a Downtrend alert when the shares were trading at $152.30. Since that call, shares of Lam Research have fallen 8.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle lam research

Ticker(s): LRCX