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SmarTrend Watching for Potential Rebound in Shares of Lam Research After 1.73% Loss

By Amy Schwartz

Lam Research (NASDAQ:LRCX) traded in a range yesterday that spanned from a low of $261.36 to a high of $266.48. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $265.79 on volume of 593,000 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 $285.87 and a 52-week low of $122.64 and are now trading 117% above that low price at $265.71 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.9%.

SmarTrend recommended that subscribers consider buying shares of Lam Research on October 11th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $238.45. Since that recommendation, shares of Lam Research have risen 11.9%. We continue to monitor LRCX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders lam research

Ticker(s): LRCX