SmarTrend Watching for Potential Pullback in Shares of Lam Research After 1.46% Gain
Lam Research (NASDAQ:LRCX) traded in a range yesterday that spanned from a low of $98.55 to a high of $99.66. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $99.16 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 24.8%. We continue to monitor LRCX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of Lam Research have traded between a low of $61.20 and a high of $102.44 and are now at $99.28, which is 62% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 0.57% higher over the past week, respectively.
Keywords: rebounders lam research