LRCX is about to make a major break into bearish territory - right side of red/yellow line
- initial target is 560 on 10/3/2023 (black trajectory)
- goal target is 520s by end of October 2023
Stop loss is a sustained break above the green trajectory
- initial target is 560 on 10/3/2023 (black trajectory)
- goal target is 520s by end of October 2023
Stop loss is a sustained break above the green trajectory
Comment:
Wouldn't be surprised if LRCX is trading at 521 on October 11th 2023.
Comment:
Updated initial target is the following:
*** LRCX will be trading in the range 586-595 on 10/5/2023
From there I'm expecting 2 possible scenarios:
1) consolidation in the range of 595-615 before making next leg down to 550 - the updated goal target is 550 rather than 520 for end of October
2) breakdown of 586 and then drop to 567-582 range by 10/13 before consolidating and then making final move to 550 still by end of October
- Stop loss is a close above 641
*** LRCX will be trading in the range 586-595 on 10/5/2023
From there I'm expecting 2 possible scenarios:
1) consolidation in the range of 595-615 before making next leg down to 550 - the updated goal target is 550 rather than 520 for end of October
2) breakdown of 586 and then drop to 567-582 range by 10/13 before consolidating and then making final move to 550 still by end of October
- Stop loss is a close above 641
