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Lam Research Set to Possibly Pullback After Yesterday's Rally of 3.29%

By Shiri Gupta

Lam Research (NASDAQ:LRCX) traded in a range yesterday that spanned from a low of $206.26 to a high of $212.08. Yesterday, the shares gained 3.3%, which took the trading range above the 3-day high of $208.58 on volume of 2.6 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 $79.15 to $234.88 and is now at $209.10, 164% 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 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