Lam Research Corporation Stock Forecast
Lam Research Corporation stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)
The Lam Research Corporation stock price gained 2.65% on the last trading day (Friday, 26th Apr 2024), rising from $901.47 to $925.37. During the last trading day the stock fluctuated 3.58% from a day low at $897.87 to a day high of $930.03. The price has fallen in 6 of the last 10 days and is down by -3.31% for this period. Volume fell on the last day by -180 thousand shares and in total, 1 million shares were bought and sold for approximately $1.04 billion. 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 weak 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 7.52% during the next 3 months and, with a 90% probability hold a price between $938.42 and $1,113.39 at the end of this 3-month period.
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LRCX Signals & Forecast
There are mixed signals in the stock today. The Lam Research Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $942.33. On a fall, the stock will find some support from the short-term average at $889.48. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 6.60%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Lam Research Corporation stock
Lam Research Corporation finds support from accumulated volume at $910.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $32.17 between high and low, or 3.58%. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: $891.50 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (LRCX) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Lam Research Corporation to open at $917.76, and during the day (based on 14 day Average True Range), to move between $896.30 and $954.44, which gives a possible trading interval of +/-$29.07 (+/-3.14%) up or down from last closing price. If Lam Research Corporation takes out the full calculated possible swing range there will be an estimated 6.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $926.03 (0.07%) than the support at $910.09 (1.65%), 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?
Lam Research Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.094 Hold/Accumulate Upgraded
Predicted Opening Price for Lam Research Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $917.76 ( 0.82%) | $925.37 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 949.92 | 2.65 % | |
| R2 | 937.63 | 1.33 % | ||
| R1 | 930.04 | 0.505 % | ||
| Current price: | 925.37 | |||
| Support | S1 | 905.47 | -2.15 % | |
| S2 | 897.88 | -2.97 % | ||
| S3 | 885.59 | -4.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 982.57 | 6.18 % | |
| R2 | 931.20 | 0.630 % | ||
| R1 | 926.03 | 0.0713 % | ||
| Current price | 925.37 | |||
| Support | S1 | 910.09 | -1.65% | |
| S2 | 888.92 | -3.94% | ||
| S3 | 884.89 | -4.37% |
LRCX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Mar 12, 2024 | Apr 03, 2024 | $2.00 | 0.204% |
| 2 | Nov 08, 2023 | Dec 12, 2023 | Jan 03, 2024 | $2.00 | 0.271% |
| 3 | Aug 24, 2023 | Sep 12, 2023 | Oct 04, 2023 | $2.00 | 0.316% |
| 4 | May 10, 2023 | Jun 13, 2023 | Jul 05, 2023 | $1.73 | 0.274% |
| 5 | Feb 08, 2023 | Mar 14, 2023 | Apr 05, 2023 | $1.73 | 0.350% |
FAQ
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