(LRCX) Proactive Strategies

July 08, 2024, 23:52 pm ET, BY Mitchell H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for LRCX

• Buy LRCX slightly over 1033.47 target 1124 stop loss @ 1030.49 Details

The technical summary data tells us to buy LRCX near 1033.47 with an upside target of 1124. This data also tells us to set a stop loss @ 1030.49 to protect against excessive loss in case the stock begins to move against the trade. 1033.47 is the first level of support below 1101.61 , and by rule, any test of support is a buy signal. In this case, support 1033.47 is being tested, a buy signal would exist.

• Short LRCX slightly under 1124, target 1033.47, stop loss @ 1127.25 Details

The technical summary data is suggesting a short of LRCX as it gets near 1124 with a downside target of 1033.47. We should have a stop loss in place at 1127.25though. 1124 is the first level of resistance above 1101.61, and by rule, any test of resistance is a short signal. In this case, if resistance 1124 is being tested, a short signal would exist.

Swing Trading Plans for LRCX

• Buy LRCX slightly over 1124, target n/a, Stop Loss @ 1120.75 Details

If 1124 begins to break higher, the technical summary data tells us to buy LRCX just slightly over 1124, with an upside target of n/a. The data also tells us to set a stop loss @ 1120.75 in case the stock turns against the trade. 1124 is the first level of resistance above 1101.61, and by rule, any break above resistance is a buy signal. In this case, 1124, 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 1124, target 1100.88, Stop Loss @ 1127.25. Details

The technical summary data is suggesting a short of LRCX if it tests 1124 with a downside target of 1100.88. We should have a stop loss in place at 1127.25 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, 1124, 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 1109.83, target 1124, Stop Loss @ 1107.24 Details

If 1109.83 begins to break higher, the technical summary data tells us to buy LRCX just slightly over 1109.83, with an upside target of 1124. The data also tells us to set a stop loss @ 1107.24 in case the stock turns against the trade. 1109.83 is the first level of resistance above 1101.61, and by rule, any break above resistance is a buy signal. In this case, 1109.83, 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 1109.83, target 1100.88, Stop Loss @ 1112.42. Details

The technical summary data is suggesting a short of LRCX if it tests 1109.83 with a downside target of 1100.88. We should have a stop loss in place at 1112.42 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, 1109.83, 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 Corporation (LRCX) available here: LRCX.

LRCX Ratings for July 08:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	946.65
P2	1092.42	1062.88	1033.47
P3	1109.83	1100.88	1124

AI Generated Signals for LRCX

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Don't over think it!  Trading Lam Research Corporation (NASDAQ: LRCX) or any other stock can be rewarding if the simple rules of technical analysis are observed before making any decisions.  This should be an integral part of the investment process.

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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.

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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.