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After Yesterday's Rally of 1.84% Shares Could Potentially Pullback

By Shiri Gupta

Lam Research (NASDAQ:LRCX) traded in a range yesterday that spanned from a low of $300.95 to a high of $304.85. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $304.37 on volume of 598,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Lam Research has traded in a range of $136.65 to $304.85 and is now at $304.99, 123% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Lam Research on December 12th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $279.81. Since that recommendation, shares of Lam Research have risen 6.6%. 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