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Lam Research's Impressive Rally This Year Is Likely to Continue

Bruce Kamich

In the daily bar chart of Action Alerts PLUS holding LRCX, below, we can see a "V" bottom with prices declining significantly over seven months to a late December nadir followed a four-month rally to regain the prior peak. The trend-following Moving Average Convergence Divergence (MACD) oscillator has turned down from positive territory for a take profits sell signal. In the weekly bar chart of LRCX, below, we can see an impressive rally from the middle of 2016 to early 2018 where the share price of LRCX nearly tripled before a 75% correction.