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Chart of the Day: Tight Consolidation in Semiconductor Equipment Stock
David Russell
March 14, 2023

Semiconductors have outperformed lately as investors get excited about demand from artificial intelligence (AI). Today’s chart considers equipment supplier Lam Research .

The first pattern is the rising 50-day simple moving average. LRCX has consolidated in a tight range around that line during the last three weeks, a potential sign the intermediate-term uptrend remains in effect.

Next, roll back the clock to …

For more, please click here to view the related idea and chart analysis on TradingView.

Lam Research (LRCX), daily chart with selected patterns and indicators, courtesy of TradingView

About the author

David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.