LRCX dominated by bears dragging the market lower throughout the day


Lam Research (LRCX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
LRCX dominated by bears dragging the market lower throughout the day
LRCX closes lower for the 2nd day in a row
LRCX ends the day on a bearish note closing near the low of the day
LRCX breaks below previous session low
LRCX falls to lowest close since February 13th
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, LRCX finished Thursday at 181.17 losing $3.42 (-1.85%). Today's closing price of 181.17 marks the lowest close since February 13th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 184.03, the market confirms its breakout through the prior session's low having traded $3.06 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for LRCX
Volatility

Thursday's trading range was $5.58 (3.01%), that's above last trading month's daily average range of $4.57. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to the key resistance level at 184.81.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Lam Research
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Bearish Bounce off SMA 50 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Black Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Lam Research traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
NATGAS 2.9550.029 0.99%
SPX 2,841.7619.83 0.70%
NDX 7,449.8648.69 0.66%
INDU 25,326.05138.35 0.55%
ASX 6,329.0029.40 0.47%
CAC 5,403.41-8.91 -0.16%
TBOND 143.875-0.344 -0.24%
GBPUSD 1.2722-0.0043 -0.34%
FTSE 7,611.64-30.86 -0.40%
EURUSD 1.1344-0.0065 -0.57%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV96.14 -0.64
-0.66%
ACN 10 day candlestick chart for ACN161.24 1.01
0.63%
ADBE 10 day candlestick chart for ADBE256.05 2.51
0.99%
AAP 10 day candlestick chart for AAP154.80 9.96
6.88%
AES 10 day candlestick chart for AES13.52 0.14
1.05%
AET 10 day candlestick chart for AET197.11 2.40
1.23%
AFL 10 day candlestick chart for AFL46.51 0.21
0.45%
AMG 10 day candlestick chart for AMG147.35 0.95
0.65%
A 10 day candlestick chart for A66.99 1.05
1.59%
ABT 10 day candlestick chart for ABT63.74 0.31
0.49%