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,
Joey
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