Lam Research Corporation (NASDAQ: LRCX) Lam Research engages in the design, manufacture, marketing, refurbishment, and provision of semiconductor processing equipment used in the fabrication of integrated circuits. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. The company was founded by David K. Lam in 1980 and is headquartered in Fremont, CA.
Will LRCX Stock Extend Gains to $700?
Lam Research (NASDAQ: LRCX) LRCX stock is trading inside the falling channel and is closer to the channel upper trendline of $640. Moreover, the price action has witnessed the fresh buying interest developed in the last sessions. Furthermore, the chart shows that the stock pulled back from the support zone of $560 and made a hammer candlestick near the support zone.
LRCX Stock Price Prediction 2023
On the daily charts, LRCX stock is trading near neutrality and is pulling back with momentum.
At press time, LRCX stock price is trading at $639.05 with an intraday gain of 0.78% showing neutrality on the charts. Moreover, the trading volume increased by 0.76% to 1.001 Million and the market cap is $84.222 Billion. Furthermore, analysts have maintained a buy rating with a yearly target price of $698.48 suggesting a growth outlook for the upcoming sessions.
The RSI curve stayed above the neutral zone and shows a bullish divergence indicating a bullish outlook for the next sessions. With a bullish crossover, the MACD is also suggesting a positive outlook for the coming sessions.
LRCX stock has the potential to reach a maximum of $660 by 2023. Conversely, if stock slips below $625, it will retest $600 soon.
LRCX Stock Price Prediction 2024
On the monthly chart, LRCX stock showed a V shaped recovery from the demand zone of $300 near the 100 day EMA. Furthermore, the price action has witnessed the buyers accumulation. As per the technicals, LRCX stock has done the retracement and is ready to retest the 52 week highs of $726.53 soon.
If buyers continue to extend the gains and cross the neckline of $650, LRCX stock will go toward $700 (max) by 2024.
LRCX stock has a downside risk to the minimum of $570.
LRCX Stock Price Prediction 2025
On the 6 months chart, LRCX stock is trying to attain follow on buying momentum and is close to the neckline of $650. If bulls continue to outperform, LRCX stock will reach the maximum of $750 followed by $790.
Conversely, if the bear army goes on a sell-off, LRCX stock will go to the minimum of $520.
Summary
LRCX stock price is trading above the significant moving averages and is forming lower highs and lower lows for the past sessions. However, the bulls are not done making gains, they are looking to attain a breakout beyond the hurdle of $650.
Technical Levels
Support Levels: $600 and $580
Resistance Levels: $650 and $680
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/11/07/lrcx-stock-price-prediction-2023-25-is-lrcx-ready-to-outperform/