Lam Research Corp.(LRCX:NASDAQ) Elliott Wave Technical Analysis 5 May 23

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Lam Research Corp., Elliott Wave Technical Analysis

Lam Research Corp., (LRCX:NASDAQ): Daily Chart, 5 May 23,

LRCX Stock Market Analysis: It looks like the triangle had been confirmed with the upmove in what seems to be wave i. Alternatively we have a truncated wave (v) and we are resuming lower.

LRCX Elliott Wave Count: Wave i of (v).

LRCX Technical Indicators: Above all averages, 20EMA as support.

LRCX Trading Strategy: Looking for further upside into wave iii with invalidation level where the red line is at 482.5$.

TradingLounge Analyst: Alessio Barretta

 

 

Lam Research Corp., LRCX: 4-hour Chart, 5 May 23,

Lam Research Corp., Elliott Wave Technical Analysis

LRCX Stock Market Analysis: It looks like e are in wave 2 of iii which seems to be confirmed by looking at even lower timeframes as we seem to have a three wave move into micro wave 2.  

LRCX Elliott Wave count: Wave 2 of iii.

LRCX Technical Indicators: 20EMA as support.

LRCX Trading Strategy: Looking for further upside into wave iii with invalidation level where the red line is at 482.5$.