After Yesterday's Rally of 1.74% Shares Could Potentially Pullback
Lam Research (NASDAQ:LRCX) traded in a range yesterday that spanned from a low of $89.46 to a high of $91.22. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $90.00 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Lam Research has traded in a range of $61.20 to $91.22 and is now at $91.12, 49% above that low. 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 13.9%. We continue to monitor LRCX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders lam research