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Lam Research Set to Possibly Rebound After Yesterday's Selloff of 4.12%

By Shiri Gupta

Lam Research (NASDAQ:LRCX) traded in a range yesterday that spanned from a low of $142.97 to a high of $147.41. Yesterday, the shares fell 4.1%, which took the trading range below the 3-day low of $148.50 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Lam Research share prices have moved between a 52-week high of $234.88 and a 52-week low of $133.42 and are now trading 8% above that low price at $143.53 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.

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