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Lam Research Set to Possibly Pullback After Yesterday's Rally of 1.84%

By Shiri Gupta

Lam Research (NASDAQ:LRCX) traded in a range yesterday that spanned from a low of $300.95 to a high of $304.85. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $304.37 on volume of 598,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Lam Research have traded between a low of $136.65 and a high of $304.85 and are now at $304.99, which is 123% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.8%.

SmarTrend recommended that subscribers consider buying shares of Lam Research on December 12th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $279.81. Since that recommendation, shares of Lam Research have risen 6.6%. We continue to monitor LRCX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders lam research

Ticker(s): LRCX