Lam Research Corp (LRCX): Price Now Near $586.05; Daily Chart Shows An Uptrend on 100 Day Basis

The Hourly View for LRCX

At the moment, LRCX’s price is down $-1.95 (-0.33%) from the hour prior. This is the 3rd hour in a row LRCX has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, so that price is now turning below them. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

LRCX’s Technical Outlook on the Daily Chart

Currently, LRCX’s price is down $-12.42 (-2.08%) from the day prior. This move is a reversal from the day prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. Lam Research Corp’s price action over the past 90 days can be seen via the chart below.

LRCX

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