Stock Chart Analysis LRCX

Posted by downtowntrader | 7/01/2007 10:28:00 PM | 0 comments »

Stock Chart Analysis LRCX

Lam Research Corporation (Public, NASDAQ:LRCX)

It looks like there has been a possible rotation into the semiconductor space and LRCX could be one of the beneficiaries. It has been consolidating a very strong move that occured from March through early May. This has basically formed a very nice cup and handle base with LRCX trading near the bottom of the handle. Although it is trading under it's major moving averages, this looks like a low risk high reward setup due to the close proximity to stop loss placement ( probably about 15-20 cents under the May low or under the 200 sma for longer term traders.

Good Trading,


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