Lam Research Corporation Stock Forecast
Lam Research Corporation stock price down 2.56% on Thursday
(Updated on Apr 18, 2024)
The Lam Research Corporation stock price fell by -2.56% on the last day (Thursday, 18th Apr 2024) from $912.26 to $888.92. During the last trading day the stock fluctuated 2.82% from a day low at $884.39 to a day high of $909.33. The price has fallen in 6 of the last 10 days and is down by -6.59% for this period. Volume has increased on the last day by 640 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $2.04 billion.
Given the current short-term trend, the stock is expected to rise 14.98% during the next 3 months and, with a 90% probability hold a price between $1,022.07 and $1,217.75 at the end of this 3-month period.
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LRCX Signals & Forecast
There are few to no technical positive signals at the moment. The Lam Research Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $944.68 and $956.60. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -10.62%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Lam Research Corporation stock
Lam Research Corporation finds support from accumulated volume at $865.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $24.94 between high and low, or 2.82%. For the last week the stock has had daily average volatility of 3.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LRCX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Lam Research Corporation to open at $894.21, and during the day (based on 14 day Average True Range), to move between $860.14 and $917.70, which gives a possible trading interval of +/-$28.78 (+/-3.24%) up or down from last closing price. If Lam Research Corporation takes out the full calculated possible swing range there will be an estimated 6.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $910.09 (2.38%) than the support at $865.60 (2.62%), 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.
Earnings coming up
Lam Research Corporation will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $7.23. We will update the financials statements for Lam Research Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.44% in the first trading day after earnings release.
Is Lam Research Corporation stock A Buy?
The Lam Research Corporation stock holds several negative signals and despite the positive trend, we believe Lam Research Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.506 Sell Candidate Unchanged
Predicted Opening Price for Lam Research Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $894.21 ( 0.596%) | $888.92 |
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 | 919.15 | 3.40 % | |
| R2 | 909.63 | 2.33 % | ||
| R1 | 903.74 | 1.67 % | ||
| Current price: | 888.92 | |||
| Support | S1 | 884.69 | -0.476 % | |
| S2 | 878.80 | -1.14 % | ||
| S3 | 869.27 | -2.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 912.26 | 2.63 % | |
| R2 | 911.58 | 2.55 % | ||
| R1 | 910.09 | 2.38 % | ||
| Current price | 888.92 | |||
| Support | S1 | 865.60 | -2.62% | |
| S2 | 848.16 | -4.59% | ||
| S3 | 826.32 | -7.04% |
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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