Lam Research (LRCX) – Bullish DailyPlay – Feb 26th, 2019
Bullish – LRCX $179.60 – Technology
The bullish DailyPlay we chose for Tuesday, Feb 26th is Lam Research (LRCX). LRCX is part of the Technology Sector (XLK). XLK has rallied 9.18% higher over the past month and its 1m and 6m trend turned bullish on Feb 12th while breaking above its $68 resistance level.
Lam Research’s 1m and 6m trends turned bullish on Jan 24th and recently bounced off its $175 support level. With a technical score of 8 (out of 10), LRCX is a bullish stock that will likely continue higher.
As a stop loss, if LRCX was to trade below $175 for multiple days, this would invalidate our analysis and suggest getting out of the trade.