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Lam Research Corp., Elliott Wave Technical Analysis

Lam Research Corp., (Nasdaq: LRCX): Daily Chart, 30 March 2023.

LRCX Stock Market Analysis: We had a sharp reaction to the upside during yesterday’s session. At this point, there is evidence suggesting we could be looking at a potential extension as labeled.  

LRCX Elliott Wave Count:  Wave (iii) of {iii}.

LRCX Technical Indicators: Above all averages.  

LRCX Trading Strategy: Looking for upside into wave (iii).

Analyst: Alessio Barretta

Lam Research Corp., LRCX: 4-hour Chart, 30 March 2023.

Lam Research Corp., Elliott Wave Technical Analysis
LRCX Stock Market Analysis: Having to reach 0.618 c vs. a and especially strongly reacting off it, usually signifies the bulls are back in control. In addition to that on lower time frames(1H) wave c appears as a clear five wave move, confirming the overall count. At last, if we were to continue lower wave (ii) would start to get larger than wave {ii} compromising the whole count.  

LRCX Elliott Wave count: Wave i of (iii).

LRCX Technical Indicators: Above all averages.  

LRCX Trading Strategy: Looking for quick short trades into wave iii.

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