Nicholas Santiago
InTheMoneyStocks
Thursday, June 7, 2018
Lam Research $LRCX Gets Crushed After Analyst Issues Cautious View, Watch This Level
This morning, leading semiconductor equipment maker, Lam Research (NASDAQ:LRCX) is getting hammered to the downside after an analyst issued a cautious view on shipments. The stock is trading lower by $11.82 to $187.79 a share. At this point in time, LRCX stock is testing its important 50-week moving average. This moving average has been very important for LCRX stock. The last three times the 50-week moving average has been tested it has held as major support. Should this key support level fail, then traders must look down to the $174.00 area for institutional sponsorship in LRCX stock. This level was where LRCX broke out in February 2018. Some other important stocks that are declining in sympathy to LRCX today include, Applied Materials Inc (AMAT:NASDAQ), and KLA-Tencor Corp (KLAC:NASDAQ).
