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Lam Research Falls 2.67% on Heavy Volume: Watch For Potential Rebound

Comtex SmarTrend(R) - Tue Sep 11, 11:54AM CDT

Lam Research (NASDAQ:LRCX) traded in a range yesterday that spanned from a low of $153.19 to a high of $156.20. Yesterday, the shares fell 2.7%, which took the trading range below the 3-day low of $158.25 on volume of 1.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Lam Research on August 17th, 2018 by issuing a Downtrend alert when the shares were trading at $168.72. Since that call, shares of Lam Research have fallen 5.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Lam Research share prices have moved between a 52-week high of $234.88 and the current low of $153.19 and are currently at $155.75 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.4%.

Write to SmarTrend at cs@mysmartrend.com

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