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Downtrend ResistanceArchive - 4/5/2024 - Sign In to see current Signals. |
Lam Research (LRCX) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Lam Research (LRCX). During the week, the LRCX gave back -2.99 points, or -0.31%, and closed at 968.58 on Friday, April 5, 2024. Weekly volume was -27% below average. LRCX is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See LRCX long-term trend chart] A long-term uptrend had started on November 20, 2008 at 14.72 and reached 1007.39 on March 7, 2024. LRCX gained -992.67 points, or -6743.68%, in 798 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (164.25) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend. Medium-term trend: [See LRCX medium-term trend chart] A medium-term uptrend had started on October 13, 2022 at 299.59 and reached 1007.39 on March 7, 2024. LRCX gained -707.80 points, or -236.26%, in 73 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (757.33) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend. Weekly Technical Indicators: [See LRCX weekly technical indicators chart] Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help. The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See LRCX short-term trend chart] A short-term downtrend had started on March 21, 2024 at 1004.30 and reached 944.00 on April 4, 2024. LRCX lost 60.30 points, or 6.00%, in 14 days. The price is now at the 40.76% retracement level. Daily Technical Indicators: [See LRCX daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since March 7, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
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