Lam Research (LRCX) Crossed Above the 50-Day Moving Average: What That Means for Investors

Lam Research (LRCX) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, LRCX broke through the 50-day moving average, which suggests a short-term bullish trend. The bullish case solidifies once investors consider LRCX's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 10 higher, while the consensus estimate has increased too. The 50-day simple moving average is one ...