Trend Tracker for Lam Research $LRCX

October 17, 2023, 20:00 pm ET, BY Rick W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for LRCX

• Buy LRCX slightly over 630.45 target 682.50 stop loss @ 628.63 Details

The technical summary data tells us to buy LRCX near 630.45 with an upside target of 682.50. This data also tells us to set a stop loss @ 628.63 to protect against excessive loss in case the stock begins to move against the trade. 630.45 is the first level of support below 649.05 , and by rule, any test of support is a buy signal. In this case, support 630.45 would be being tested, so a buy signal would exist.

• Short LRCX slightly under 682.50, target 630.45, stop loss @ 684.47 Details

The technical summary data is suggesting a short of LRCX as it gets near 682.50 with a downside target of 630.45. We should have a stop loss in place at 684.47though. 682.50 is the first level of resistance above 649.05, and by rule, any test of resistance is a short signal. In this case, if resistance 682.50 is being tested, so a short signal would exist.

Swing Trading Plans for LRCX

• Buy LRCX slightly over 659.97, target 682.50, Stop Loss @ 658.06 Details

If 659.97 begins to break higher, the technical summary data tells us to buy LRCX just slightly over 659.97, with an upside target of 682.50. The data also tells us to set a stop loss @ 658.06 in case the stock turns against the trade. 659.97 is the first level of resistance above 649.05, and by rule, any break above resistance is a buy signal. In this case, 659.97, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short LRCX slightly near 659.97, target 640.56, Stop Loss @ 661.88. Details

The technical summary data is suggesting a short of LRCX if it tests 659.97 with a downside target of 640.56. We should have a stop loss in place at 661.88 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 659.97, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for LRCX

• Buy LRCX slightly over 659.97, target 662.83, Stop Loss @ 658.43 Details

If 659.97 begins to break higher, the technical summary data tells us to buy LRCX just slightly over 659.97, with an upside target of 662.83. The data also tells us to set a stop loss @ 658.43 in case the stock turns against the trade. 659.97 is the first level of resistance above 649.05, and by rule, any break above resistance is a buy signal. In this case, 659.97, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short LRCX slightly near 659.97, target 647.27, Stop Loss @ 661.51. Details

The technical summary data is suggesting a short of LRCX if it tests 659.97 with a downside target of 647.27. We should have a stop loss in place at 661.51 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 659.97, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Lam Research (LRCX) available here: LRCX.

LRCX Ratings for October 17:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	630.45
P2	647.27	640.56	682.50
P3	662.83	659.97	740.26

AI Generated Signals for LRCX

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The data for Lam Research (NASDAQ: LRCX) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for LRCX change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if LRCX is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for LRCX too.  All of these are offered below the Summary Table.