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Look for Shares of Lam Research to Potentially Rebound after Yesterday's 4.64% Sell Off

By James Quinn

Lam Research (NASDAQ:LRCX) traded in a range yesterday that spanned from a low of $249.54 to a high of $257.24. Yesterday, the shares fell 4.6%, which took the trading range below the 3-day low of $252.05 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Lam Research has traded in a range of $171.04 to $344.32 and is now at $244.85, 43% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.8%.

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