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Downtrend ExhaustionArchive
- 10/11/2024 -
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Lam Research (LRCX) Technical Analysis
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| Summary:
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| | It was a first positive week for the Lam Research (LRCX). During the week, the LRCX gained 1.35 points, or 1.66%, and closed at 82.89 on Friday, October 11, 2024. Weekly volume was 493% above average.
LRCX is a member of Semiconductor Equipment Industry. Semiconductor Equipment is the ninth most oversold industry. 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 1130.00 on July 11, 2024. LRCX gained -1115.28 points, or -7576.63%, in 816 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (169.72) 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 long-term trend.
 Medium-term trend: [See LRCX medium-term trend chart]
A medium-term downtrend had started on July 11, 2024 at 1130.00 and reached 78.69 on October 1, 2024. LRCX lost 1051.31 points, or 93.04%, in 11 weeks. Price is near the trend low.
 Weekly Technical Indicators: [See LRCX weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. 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, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since July 19, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 October 1, 2024 at 78.69 and reached 83.74 on October 11, 2024. LRCX gained -5.05 points, or -6.42%, in 10 days. The price is now at the 16.83% retracement level.
 Daily Technical Indicators: [See LRCX daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Relative Strength Index and Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since September 27, 2024.
The price touches the lower Bollinger Band. The distance between the Bollinger Bands (1711.33%) is close to one year high (1482.90%). It is 3695.58% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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.
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