LRCX Inverse head and shoulders

12 janv. 2023

Pretty straight forward chart. If price makes a clear break above 505$, this inverse head and shoulders could take us all the way to a new all time high of about 840$. The fibonacci channel also confirms this as past resistance is now new support.

12 janv. 2023

Note

If the inverse head and shoulders fails to play out, I would look for the 430-435$ price level to be strong support now, but if that also fails to hold then I would look at the pre covid high of about 347-350$ for very strong macro support.

27 janv. 2023

Note

Here zoomed out on the 3 month with a different fib channel, we can see the 4.618 extension is now resistance. But if we do get above this level, this confirms why the inverse head n shoulder would create an impulsive rally to the upside.

30 mars 2023

Note

Seems to be backtesting the neckline of this Inverse head and shoulders as support, looks bullish going into April, a very strong month for market historically

18 mai 2023

Note

The breakout is finally happening.

The neckline at around 506$ was backtested as support on may 4th and then smashed through the 530$ resistance which could have also been the neckline. Obviously necklines are subjective, the more touches the more relevant they become.

On a linear scale, I have a target of about 720$ for this inverse head & shoulders pattern. On a logarithmic scale though the measured move would bring us all the way to a new ath of 870$ and the top of the original fib channel of this idea. Interesting confluence there.

31 oct. 2023

Note

LRCX looks like it's going to go to 535$ to confirm it as support. Double top + Head and shoulders pattern seem to point this way. Still bullish on longer term timeframes though.