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Todays Big Stock Wealthpop News

The Market Just Nosedived⎯Here’s How To Play A Bounce On Lam Research (LRCX)


Today’s stock hasn’t made it across our screens in quite sometime, but today, Lam Research (LRCX) makes its return. However, the timing couldn’t be much worse. With the release of non-farm payrolls and yields taking another leap higher, the market looks to once again be on some shaky ground.

This wouldn’t totally negate the trade below of a bounce at a possible support level, it just means we would need to be extra careful as the market could continue its pre-market pullback very easily as investors become spooked about the performance of the market during this time.

Rejects are probably a bit more high probability in a market like this, but we can still see some bounces off key levels of support. If this is the case with the 600 level on LRCX, traders should expect a quicker, shorter-lived move for support bounces.

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Good Luck With Your Trading!

Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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