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SmarTrend Watching for Potential Pullback in Shares of Lam Research After 9.27% Gain

By Nick Russo

Lam Research (NASDAQ:LRCX) traded in a range yesterday that spanned from a low of $235.00 to a high of $253.00. Yesterday, the shares gained 9.3%, which took the trading range above the 3-day high of $232.63 on volume of 1.4 million 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 $171.04 and a high of $344.32 and are now at $255.68, which is 49% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.6% while the 200-day MA has risen 0.2%.

SmarTrend is monitoring the recent change of momentum in Lam Research. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Lam Research in search of a potential trend change.

Keywords: rebounders lam research

Ticker(s): LRCX