LRCX dominated by bears dragging the market lower throughout the day
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.
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.
Prices are trading close to the key resistance level at 184.81.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
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
|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...
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