LRCX closes higher for the 2nd day in a row

Lam Research (LRCX) Technical Analysis Report for Sep 14, 2018

Highlights

LRCX closes below its opening price unable to hold early session gains
LRCX closes higher for the 2nd day in a row
LRCX closes within previous day's range
LRCX ends the day indecisive

TQ Sentiment

Report Sentiment: 20% Bearish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, LRCX finished the week -3.84% lower at 153.46 after gaining $0.34 (0.22%) today. Trading $1.93 higher after the open, Lam Research was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for LRCX

Volatility

Friday's trading range was $3.80 (2.47%), that's slightly above last trading month's daily average range of $3.79. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.

Trend

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

Order Flow

Selling might accelerate should prices move below the nearby swing low at 149.02 where further sell stops could get triggered.

Conclusion

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

Market Conditions for Lam Research

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Latest Report:

LRCX pushes through key resistance level

Sep 21, 2018
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