Lam Research Corp.(LRCX:NASDAQ) Elliott Wave Technical Analysis 26 May 23

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Lam Research Corp., Elliott Wave Technical Analysis

Lam Research Corp., (LRCX:NASDAQ): Daily Chart, 26 May 23,

LRCX Stock Market Analysis: The stock has been moving as expected ever since we confirmed the triangle in wave (iv). As we are supposing we are in a leading diagonal in wave {i}, wave (v) must be shorter than (iii) therefore we cannot break north of the red line at 668$.

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

LRCX Technical Indicators: Above all averages.

LRCX Trading Strategy: At this point if you had longs you may consider closing them, we need to investigate on the potential on another move higher into wave v.

TradingLounge Analyst: Alessio Barretta
 

 

 

 

Lam Research Corp., LRCX: 4-hour Chart, 26 May 23,

Lam Research Corp., Elliott Wave Technical Analysis
LRCX Stock Market Analysis: In this chart we open the possibility of further upside into wave v. We will need to see on the aggressiveness and shape of potential wave iv on whether to confirm we are in a wave iv or in a larger degree correction.

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

LRCX Technical Indicators: Above all averages.

LRCX Trading Strategy: Looking for upside into wave v.