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- 3/15/2024 -
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Lam Research (LRCX) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtLane's Stochastic bearish divergenceBroken trend resistance lineTrend resistance at 925.34
Daily :The price has fallen below the Parabolic SARWilliams' Percentage Range and Lane's Stochastic are oversoldBroken trend support lineThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Lam Research (LRCX). During the week, the LRCX dropped -46.56 points, or -4.87%, and closed at 910.09 on Friday, March 15, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was 16% above 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 (163.67) 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 price is near the trend resistance line (925.34). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See LRCX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 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 relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See LRCX short-term trend chart]
A short-term uptrend had started on January 4, 2024 at 723.25 and reached 1007.39 on March 7, 2024. LRCX gained -284.14 points, or -39.29%, in 63 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (974.84) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. LRCX may retest the broken support line. It is considered to be a resistance line now. 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 support in a short-term trend.

Daily Technical Indicators: [See LRCX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since March 7, 2024. The distance between MACD and the signal line is near its high and getting bigger.

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.

During the last week, the price has declined below 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.23
Williams' Percentage Range (W%R) 81.70
Oversold
Lane's Stochastic (%D-Slow) 15.19
Oversold
Greed/Fear Indicator (GFI) 25.92
Moving Average Converg./Diverg. (MACD) 26.67
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.88
Williams' Percentage Range (W%R) 22.70
Lane's Stochastic (%D-Slow) 86.33
Overbought Bearish
Greed/Fear Indicator (GFI) 73.82
Moving Average Converg./Diverg. (MACD) 63.69
Trading Signals
Description Value Chart
Weekly Trendline Resistance 1029.59
Monthly Trendline Resistance 1024.58
Parabolic System 995.63
Upper Bollinger Band 982.31
Weekly Trendline Support 974.84
Weekly Stochastic Crossing 974.83
20 Day Moving Average 941.57
Monthly Trendline Support 932.59
Quarterly Trendline Resistance 925.34
Daily Stochastic Crossing 919.99
Price 910.09
Lower Bollinger Band 877.06
50 Day Moving Average 870.69
Quarterly Trendline Support 739.77
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Semiconductor Equipment 106
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 1007.39
High Date 03/07/2024
Low 905.60
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 1029.59
Support 974.84
Low 723.25
Low Date 01/04/2024
High 1007.39
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 1024.58
Support 932.59
Low 574.42
Low Date 10/31/2023
High 1007.39
High Date 03/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 925.34
Support 739.77
Low 299.59
Low Date 10/13/2022
High 1007.39
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 358.49
Support 163.67
Low 14.72
Low Date 11/20/2008
High 1007.39
High Date 03/07/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.