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Uptrend SupportArchive
- 4/19/2024 -
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Lam Research (LRCX) Technical Analysis
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| Summary:
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| | It was the negative week for the Lam Research (LRCX). During the week, the LRCX dropped -86.79 points, or -9.07%, and closed at 870.25 on Friday, April 19, 2024. Weekly volume was 21% 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 (164.67) 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 trend support level is at 769.88 and resistance is at 955.44. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See LRCX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 April 11, 2024 at 985.19 and reached 861.95 on April 19, 2024. LRCX lost 123.24 points, or 12.51%, in 8 days. The price is now at the 6.73% retracement level.
 Daily Technical Indicators: [See LRCX daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 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. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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 price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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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