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SmarTrend Watching for Potential Pullback in Shares of Lam Research After 1.93% Gain

By Nick Russo

Lam Research (NASDAQ:LRCX) traded in a range yesterday that spanned from a low of $311.00 to a high of $315.36. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $309.99 on volume of 537,000 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, Lam Research share prices have been bracketed by a low of $137.58 and a high of $315.36 and are now at $313.79, 128% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.4%.

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