Lam Research (LRCX - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, LRCX crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
LRCX has rallied 7.4% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests LRCX could be on the verge of another move higher.
The bullish case solidifies once investors consider LRCX's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 9 higher, while the consensus estimate has increased too.
Investors should think about putting LRCX on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Lam Research (LRCX - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, LRCX crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
LRCX has rallied 7.4% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests LRCX could be on the verge of another move higher.
The bullish case solidifies once investors consider LRCX's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 9 higher, while the consensus estimate has increased too.
Investors should think about putting LRCX on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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