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Third for the week! Let’s review a few more names:
Lam Research Corporation (NASDAQ: LRCX)
LRCX is on a tear, with 2 multi-decade support trendlines in play.
Currently, it's trading above its 2.618 Fib extension at 247.36. Upside is currently suppressed by the short-term red resistance trendline as shown on the weekly and daily charts, while downside is currently limited to the 204.57 monthly horizontal support.
If LRCX breaks above this red resistance trendline, it could continue price discovery into the 3.618 Fib extension at 330.40 next.
However, if LRCX rejects here, it could pullback into the 2.618 Fib level at 247.36 once more. Below 247.36, it could retest the 204.57 monthly support once more.
Until LRCX breaks below 204.57, it could continue to churn sideways to reset oscillators, or continue price discovery.
Philip Morris International Inc (NYSE: PM)
PM has been trading in the green ascending channel. It’s been rejecting off the 1.618 Fib extension at 180.10 since June last year.
2 weeks ago, PM filled the weekly bullish imbalance at 153.72 before putting in a green candle this week, and closing above the red resistance trendline as shown on the daily chart. However, it has still not been able to get above the 163.70 monthly level.
If PM breaks above 163.70, then it can push into the 176-183 weekly imbalance and notably, the 180.10 Fib level.
If PM breaks down below 153.72, then it can head into the confluence of bullish imbalances at 142-145.
Another thing to note is that PM is still trading above the middle of the green channel - this suggests that bulls are still in control for the time being.
Vistra Corp. (NYSE: VST)
VST has been in an uptrend since 2020. Currently, it's been respecting the blue support trendline. However, this trend is under threat as VST has been unable to hold above its 2024 prior ATH at 168.67 and is also under its 160.18 level. Furthermore, VST has also been respecting the red and brown resistance trendlines.
If VST breaks down below the blue support trendline, then it could head for the 130.41 monthly imbalance fill next.
If VST breaks above the 168.67 prior ATH, then it can push back into the red trendline. If that trendline is also reclaimed, then VST can fill the daily imbalance at 206-209.
All in all, VST faces a rocky road ahead, as it has several overhead resistances and resistance trendlines to reclaim.
@TigerWire @TigerStars @TigerEvents @CaptainTiger @MillionaireTiger
$Lam Research(LRCX)$ $Philip Morris(PM)$ $Vistra Energy Corp.(VST)$ $Apple(AAPL)$ $Tesla Motors(TSLA)$
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