Lam Research Corporation Stock Forecast
Lam Research Corporation stock price up 1.15% on Tuesday
(Updated on Jul 02, 2024)
The Lam Research Corporation stock price gained 1.15% on the last trading day (Tuesday, 2nd Jul 2024), rising from $1,060.63 to $1,072.82. During the last trading day the stock fluctuated 2.57% from a day low at $1,046.54 to a day high of $1,073.42. The price has risen in 6 of the last 10 days and is up by 0.1% over the past 2 weeks. Volume fell on the last day by -86 thousand shares and in total, 527 thousand shares were bought and sold for approximately $564.90 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.31% during the next 3 months and, with a 90% probability hold a price between $1,099.83 and $1,268.49 at the end of this 3-month period.
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LRCX Signals & Forecast
The Lam Research Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1,055.32 and $993.06. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.54%. Further fall is indicated until a new bottom pivot has been found.
A buy signal from a double bottom formation was found on Wednesday, May 01, 2024 with a target of $937.45. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Lam Research Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $888.92 and $884.89. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Lam Research Corporation finds support just below today's level at $888.92. If this is broken, then the next support from accumulated volume will be at $884.89 and $868.07.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $26.88 between high and low, or 2.57%. For the last week, the stock has had daily average volatility of 2.97%.
Our recommended stop-loss: $1,031.66 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (LRCX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Lam Research Corporation to open at $1,064.26, and during the day (based on 14 day Average True Range), to move between $1,041.16 and $1,104.48, which gives a possible trading interval of +/-$31.66 (+/-2.95%) up or down from last closing price. If Lam Research Corporation takes out the full calculated possible swing range there will be an estimated 5.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1,089.58 (1.56%) than the support at $888.92 (17.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Lam Research Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Lam Research Corporation stock to perform well in the short-term.
Current score: 3.297 Buy Candidate Unchanged
Predicted Opening Price for Lam Research Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1,064.26 ( 0.798%) | $1,072.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LRCX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,091.14 | 1.71% |
| R2 | 1,080.87 | 0.751% |
| R1 | 1,074.53 | 0.159% |
| Price | 1,072.82 | |
| S1 | 1,053.99 | -1.76% |
| S2 | 1,047.65 | -2.35% |
| S3 | 1,037.38 | -3.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 1,089.58 | 1.56% |
| Price | 1,072.82 | |
| S1 | 888.92 | -17.14% |
| S2 | 884.89 | -17.52% |
| S3 | 868.07 | -19.09% |
LRCX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | Jun 18, 2024 | Jul 10, 2024 | $2.00 | 0.186% |
| 2 | Feb 08, 2024 | Mar 12, 2024 | Apr 03, 2024 | $2.00 | 0.204% |
| 3 | Nov 08, 2023 | Dec 12, 2023 | Jan 03, 2024 | $2.00 | 0.271% |
| 4 | Aug 24, 2023 | Sep 12, 2023 | Oct 04, 2023 | $2.00 | 0.316% |
| 5 | May 10, 2023 | Jun 13, 2023 | Jul 05, 2023 | $1.73 | 0.274% |
FAQ
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