Lam Research (LRCX) Just Overtook the 20-Day Moving Average

Core Viewpoint - Lam Research (LRCX) shows potential as a stock pick due to its recent technical performance and positive earnings estimate revisions [1][4]. Technical Analysis - LRCX has surpassed resistance at the 20-day moving average, indicating a short-term bullish trend [1]. - The 20-day simple moving average is a key trading tool that helps smooth out price fluctuations and provides trend reversal signals [2]. Performance Metrics - Over the past four weeks, LRCX has gained 11.6% [4]. - The company holds a Zacks Rank 2 (Buy), suggesting further upward movement potential [4]. Earnings Estimates - There have been 12 upward revisions for LRCX's earnings estimates for the current fiscal year, with no downward revisions [4]. - The consensus earnings estimate has also increased, reinforcing the bullish outlook for the stock [5].