Structure BreakReversal and structure break means go long
Next level $535 are target.
Also early entry was daily inside bar play.
Not financial advice please use proper risk management
LRCX trade ideas
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 with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $LRCX after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 33.33%.
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.
$LRCX with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $LRCX after a Negative Under reaction following its earnings release placing the stock in drift D.
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.
Lam Research - Solid Company! Whats your thought?NASDAQ:LRCX
More consolidation before breaking out??
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.
$LRCX with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $LRCX after a Negative over reaction following its earnings release placing the stock in drift C
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LAM Research Long!!!!! ONLY IDEA & STUDY PURPOSE !!!!!!!
On Watch: Last Updated 07/24
1) Sector:
Semiconductor In Trend - Crossed D-MA20 and Confirmation
2) Stock Performance:
YTD > 35%
3) Ichi + D-MA20 (Strategy):
Starting Ichi + D-MA20 confirmed + Daily JH Breakout
4) Trend of Ichi + D-MA20:
Trending Up
5) Moving Average Alignment:
Above D-MA50 + Above D-MA20 Supporting
6) Crossing EMAs:
Cross 8 x 21 @ 07/23
7) Time to Earnings:
4 Days to earnings (WARNING)
8) Impulse Maturity:
Breaking Out Descending JH + After Bounce 2Bottom
9) Oscillators MACD & RSI:
MACD Crossing Signal 2 Green bar up
10) Support & resistance Confirmation:
first Ress @ 655 2 Ress @ 673 ATH
11) Risk Reward 2:1 Min:
2.39
1st: 3.65%
N/St: 7.19%
Action Plan:
1) Entry $ 644.65 After Engulfing RED Bar
2) Spinning Top It is Indecision Candle Keep on Watch it goes laterally and Watch
if Pullback Forming entry Point is @ D-MA20
3) Setting Alarm $644.65 & D-MA20 crossing
$LRCX StrategyUptrend intact on the daily and weekly charts, in fact, it's looking on the indicators like it wants another swing higher. RSI curled down last Friday to put in an inside red candle. I've identified 2 key levels (the purple lines) to trade the daily range if it moves towards either side. We closed the week at support. I am looking for calls over 633.36 or puts under 601.66. Last week was a very OPEX volatile week and it if the market behaves the same way, we could see these strong moves play out on the weekly range, testing the blue line (support) for the general bullish trend. Mind you, if support is broken, we might find LRCX trade inside the chop of previous weeks inside the blue box below.
