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Archive
- 4/26/2024 -
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Lam Research (LRCX) Technical Analysis
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| Summary:
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| | It was a first positive week after 4 consecutive negative weeks for the Lam Research (LRCX). During the week, the LRCX gained 55.12 points, or 6.33%, and closed at 925.37 on Friday, April 26, 2024. Weekly volume was 36% above average.
 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 (164.88) 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 Broadening Ascending Wedge chart pattern. The trend support level is at 699.05 and resistance is at 1043.25. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See LRCX weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 857.98 on April 22, 2024. LRCX lost 146.32 points, or 14.57%, in 32 days. The price is now at the 46.06% retracement level.
Daily Technical Indicators: [See LRCX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 link to access Lane's Stochastic help.
The daily MACD line is below its signal line since March 7, 2024. This is an indication that the short-term trend is down.
A Parabolic SAR (stop and reversal) indicator (930.96) comes close to the price (925.37). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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