Short term view - LAM RESEARCH CORP : The volume is exceptional.
The trend has been momentarily interrupted by a correction. It approaches the support at $181.50, which also is the invalidation level. It should cause a bounce and resume the bullish trend. The next target is at $249.50. The invalidation level is below $181.50.Arguments :
- The major support has been reached.
- The volume is exceptional.
- Prices are breaking below the moving average, it is a sign of weakness.
Lam Research is a supplier of wafer fabrication equipment and services to the semiconductor industry. The company designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company's customer base includes semiconductor memory, foundry, and integrated device manufacturers that make products such as non-volatile memory, dynamic random-access memory, and logic devices. The company's services include customer service, spares, improvement, and refurbishment of its deposition, etch, and clean products. The company sells its products and services to companies in the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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