Chart of the Day: Tight Consolidation in Semiconductor Equipment Stock

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Semiconductors have outperformed lately as investors get excited about demand from artificial intelligence (AI). Today’s chart considers equipment supplier Lam Research .

The first pattern is the rising 50-day simple moving average. LRCX has consolidated in a tight range around that line during the last three weeks, a potential sign the intermediate-term uptrend remains in effect.

Next, roll back the clock to …

For more, please click here to view the related idea and chart analysis on TradingView.

Lam Research (LRCX), daily chart with selected patterns and indicators, courtesy of TradingView
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