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Watch for Lam Research to Potentially Pullback After Gaining 9.27% Yesterday

By James Quinn

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, Lam Research share prices have been bracketed by a low of $171.04 and a high of $344.32 and are now at $255.68, 49% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 1.6%.

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