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After Yesterday's Rally of 2.80% Shares Could Potentially Pullback

By Amy Schwartz

Lam Research (NASDAQ:LRCX) traded in a range yesterday that spanned from a low of $266.85 to a high of $270.41. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $265.25 on volume of 94,000 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 $122.64 to $285.87 and is now at $270.30, 120% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.8%.

SmarTrend is tracking the current trend status for Lam Research and will alert subscribers who have LRCX in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders lam research

Ticker(s): LRCX