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SmarTrend Watching for Potential Rebound in Shares of Lam Research After 4.64% Loss

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. The 200-day and 50-day moving averages have moved 0.28% higher and 0.76% lower over the past week, respectively.

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