Traders are watching this Double Bottom on LRCX. Inspect the chart now.
Reversal pattern after a downtrend.
Expanding volatility. Sign of instability.
Market participants tracking Lam Research should note the latest formation. The stock is trading at $252.35, down 6.4% on the day. Price action has carved out a classic Double Bottom. Volume is strong (1.31x avg) with high trend strength (61.2). A potential breakout level is identified at $438.5, targeting $626.5 with support near $344.5 (R:R 2.0).
What is your outlook on LRCX?