LRCX closes higher for the 2nd day in a row
Lam Research (LRCX) Technical Analysis Report for Sep 14, 2018
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.
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.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling might accelerate should prices move below the nearby swing low at 149.02 where further sell stops could get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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