Lam Research Gets Crushed On Analyst Call
InTheMoneyStocks.com | Jun 07, 2018 01:14PM ET
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 is testing its important 50-week moving average. This moving average has been very important for LCRX's stock. The last three times the 50-week moving average has been tested, it held as major support.h3 Institutional Support/h3
If this key support level fails, then traders must look down to the $174 area for institutional sponsorship in LRCX. That's where LRCX broke out in February 2018. Some other important stocks that are declining in sympathy with LRCX today include, Applied Materials (NASDAQ:AMAT) and KLA-Tencor (NASDAQ:KLAC).
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