LRCUSD Interesting Fibonacci Top PatternLoopring proceeds to rise to 1.618, then retreats, rises to 2.618, retreats, rises to 3.618.
Will this pattern continue for the next outer ring 4.618
LRCX
Bullish Near term to 558-590Expectation is bullish until end of May, then bearish in June to complete corrective wave.
Some confluence here using Elliot Wave, Harmonic Patterns, and Gann:
Primary EWT count gives recent completion of corrective A, next stop B. The details of this primary count are below:
- Impulse began 9/24/2012 (not shown) at 31.17
- Wave 1 completed 3/12/2018 (not shown) at 234.88
- Wave 2 retraced 55% of wave 1 and completed 12/24/2018 (not shown) at 122.64
- Wave 3 was a 271% extension of wave 1 and completed 6/1/2021 (not shown) at 637.80
- Wave 4 retraced 25% of wave 3 and completed 10/18/2021 at 535.01
- Wave 5 was apprx = wave 1 (97%) and completed 1/3/2022 at ATH 731.85
- Wave A completed 4/25/2022 at 449.50
* Wave B will likely extend to 557.35 (0.382 of A), 590.68 (0.5 of A), or 624 (0.618 of A)
** Wave C will need an update given the realization of actual level for B, however, based on the confluence (provided below) it is likely wave C will complete around 416 (0.618 of A) coming off wave B at around 590
(Alt. ABC Count (not shown in chart) would indicate the ABC already completed at A = 466.06 on 3/14/2022, B = 574.79 on 3/28 2022, and C = 449.50 on 4/25/2022; however, the subdivision count for this alt wave C is not convincing and it is more likely that level is the A of the primary count)
Confluence (supporting primary count):
- Projected minor bearish harmonic to complete D at corrective wave B level
- Projected major bullish Cypher (half shown, begins X in October 2021) will complete D at corrective wave C level
- Descending Gann fan off the wave 5 (All time high) showing lessening capacity for price (change in price to downside) to keep up with time (i.e. 1/1 angle about to be penetrated in favor of testing the 2/1 resistance – which will suggest wave B occurring in the time frame of 5/13/2022 – early June 2022). The price would then likely drop to test the 1/1 angle by end of June 2022 to complete the C (if rejected at the 2/1, thus completing B)
- Ascending Gann fan off the wave A swing low indicating price is staying in the upper section of fan and keeping up with time to the upside (exceeding it actually, which is bullish near term)
- RSI showing bullish momentum to take the price to Wave B
Not financial advice, but if you are curious how I am playing this:
- May 20 505 calls, hedge with May 13 450 puts (3 calls: 1 put). Will take profits if RSI crosses bearish or if price reaches 550s
- May 27 535 calls to let ride to potential wave B target of 590
- IF the near term bullish scenario plays out and those calls print I’ll be watching for price to drop below 507 and look to enter July 450 puts to play the drop to projected wave C in the lower 400s
- Love this company, love how the LRCX calls and puts move. Ton of doe to be made leveraging these swings!!
Sincerely,
Severus Snape
LRCX Sitting on a very important fibDrew this out from 1990 lows and it is looking like if it breaks that price point we are looking out for new lows.
$NVDA $CRWD $ABNB $LRCX I OptionsSwing WatchlistNVDA 30M I Watching NVDA for a possible relief bounce near $230, after selling more than 30% from ATH. A break below this level and it could see $220 next.
CRWD 1H I Significant bullish activity was picked up on CRWD betting on a bounce to $170 this week. Watching for a break above $165 or pre-market high.
ABNB 2H I ABNB is trading within a wedge pattern on the hourly. It will probably breakout before reporting earnings on 02/24. Resistance near $160 and support near $150.
LRCX 15M I LRCX reports earnings this week and we could see a relief bounce as well near this level. Watching for a breakout from the current downtrend on the 15M timeframe.
LRCX: The RIPPER Maybe the easiest name to play this week. I'm still salty I sold my 680c we bought for $5 for a measly $11. It ultimately went to $54.
A daily close over that ATH and we see 740 and 765 into earnings.
Using 714 as local support to short if it can't get over ATH as it ran out of juice Friday after a 50 point day.
One of my favorites and looking at LRCX $1000 to print this year as I stated in my year end analysis.
LRCX: Is $1000 in the cards in 2022? Alpha Traders members banked hard on LRCX for the last 2 months. Can it continue? A rest day is in order, but if through 707 ATH aren't far away. If it can work through the overhead supply it may be a 1000 name in 2022.
LRCX: THE NEXT FACE RIPPER LRCX is your next chip rip. Creating huge demand and should dip back to 600 before continuing its trip. Over 627.76 has a big day to 640.47 ahead of it soon. Over that $660 area. Ultimate target is $717. Yes you can quote me. December 31 target for that number.
LRCX: THE NEXT FACE RIPPER NVDA money to QCOM, LRCX, AMAT seems to be the trend here. LRCX is primed fora move to 717 in the next 30 days. We are layered long. It won't be straight up, but it will be such a fun ride.
LRCX LONG SETUP There are two specific wolfe wave setups on the 78 min (AH+ON) and Daily time-frames. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green and blue perforated lines, as shown in the chart. The projected targets for the 78 min and daily setups are 378 and 605,respectively.
SOXL - Semi's may go again? Looking at $SOXL we can see a daily close above $41.85 can usher in $43.39 this week. Would be a monster trade for $LRCX going into earnings if $SOXL is moving like it can. Possible to see $LRCX at $700 by earnings date.
my magnum opus - lrcx will make me rich by septemberlog chart looks beautiful
look
this company is so underlooked its crazy. similar chart to nvidia on the log but way cheaper premiums.
positions: 740/760, 780/800 lotto september (very cheap), great reward.
AMD leaps . Buy themAMD looking good long. I'd start a long position if you don't have one already. Already own 95C March 19, 100C April, 125C June. I have a lot of belief in the semi's to explode soon and I'm frequently averaging down and waiting for AMD to explode into triple digits and stay above for good.
Semiconductors ~ ascending triangle Technical Analysis
We have formed an ascending triangle (purple lines). If we make a measured move from the breakout, it takes us up to $275 target approximately.
21ema has been working very well as a trend following system.
OBV has been supportive of the trend.
Fundamental Analysis / News
1. Ongoing reports talking about demand for semiconductors outpacing supply, particularly from the auto makers.
2. A Reuters report that indicates CEOs of leading U.S. companies are urging the Biden administration to provide incentives to build more factories in the U.S. in order to win back market share and help mitigate risks to national security.
LRCX: Worth a shortLRCX looks to have exhausted the upside. The analogue is similar to price action in the past. If so its a good short here.
TXNTXN, and AMD report earnings after close on Tuesday. LRCX reports after close on Wednesday. There is a 9 point move priced in for TXN. If these can report a positive earnings they can help push semi stocks higher. You can play NVDA KLAC, or AMAT, as a sympathy move to avoid paying a high premium.
Lotto Trade Idea: AMAT 108C BID/ASK 1.36/1.45
If you're bearish, AMAT 104P BID/ASK 1.15/1.22 can work.
PM 50%This week I've been watching my scans for signals that fit my strategy. I have not yet seen potential trades that fit my strategy; bullish nor bearish.
Today I got two signals that fit my criteria on NYSE:PM and NASDAQ:LRCX ; shorts. PM is looking to hold a 50% level. LRCX is setting up a potential double top. I'm not yet sure of the market sentiment coming into this year. Shorts in a bull market are obviously a low probability. These two are going to serve as test cases to watch from the sidelines. Depending on if they work or not I will have my first clue of 2021.
LRCX PT $530LRCX is in a falling wedge. Last time it did this the stock ran 47% over 35 days. My PT after a breakout is $530
How far can this pullback go & KEY support levels to watch*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. I may also own or trade any of the symbols and cryptocurrencies mentioned in this video so do not make your trading or investing decisions based on this video. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky. Affiliate links are also included in this same video description section here and if you decide to support me by using any of them, I may receive a referral bonus or commission.
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LAM RESEARCH CORP BULLISH ENGULF COULD TAKE STOCK TO BOC LEVELWith the 2 week LRCX candlestick showing bullish engulf, Lam Research Corporation may be ready to rally up to re-visit the Bearish Order Candle (BOC) at $347.19. Depending on market open on Monday, a gap-up above current price would likely be good to enter the stock at 306.22 while gap-down below current price might be good above 292. There is possibility for the stock price to drop to 270.
Risk: Market sentiment remains bearish.
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
