The stock in focus today has been a well-established uptrend for quite sometime. However, now, the stock has pulled back a bit, but it has pulled back to a key support level. This means, market willing, Lam Research (LRCX) could very well be ready to head higher.

Now, it is really important to always be aware of the economic events that will take place in any given week. This week, we have CPI data that will drop later in the week, which could very well send the market in either direction. Be prepared for anything and be sure to always protect your risk and manage it with things like tight stop losses.

Learn more about this setup and what my students and I are watching in the video below!

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Good Luck!

Christian Tharp, CMT