LRCX breakdown !!!

Discussion in 'Stocks' started by miguel007, Aug 27, 2006.

  1. On friday afternoon’s the stock breakdown through the support at $40 seemingly put the sellers in further control of the trend and that is why it made sense to favor the short side. During this week the stock headed back up to the descending trendline and have failed the breakout, volume is increasing in the downdays. Keep in mind that the stock is trading in a downtrend, RSI is again in the Beraish area and an important point was that the DMA50 line already crossed DMA200.
    The low of August 17 was 41.02, so that was the "sell pivot." A print of 41.01 the next session was the technical "sell short."