|
Uptrend ExhaustionArchive - 3/15/2024 - Sign In to see current Signals. |
Lam Research (LRCX) Technical Analysis
|
|
| 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 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.
| |
|
|