🚀 Trade Idea: LRCX (Lam Research) - RSI2 Connors Strategy Setup
Entry: $98.59
Stop Loss (SL): $89.34 (~9.4% risk)
Take Profit (TP): $117.29 (~19% upside)
Risk-Reward Ratio: 1:2
📈 Trade Rationale
RSI2 Connors Buy Signal Triggered
LRCX hit an RSI2 ≤ 10 (oversold) on July 31, generating a high-probability buy signal per Connors' mean-reversion strategy.
Historically, stocks bouncing from extreme RSI2 lows tend to see short-term rallies.
Key Support & Resistance Levels
Support: Strong demand zone near $95–$98 (previous swing low).
Resistance: Next target at $117.29 (prior swing high + Fibonacci extension).
Stop Loss Placement
Placed below the recent swing low ($89.34) to avoid premature exits while respecting volatility.
📉 Risk Management
Position Size: Risk ≤ 1–2% of capital per trade.
Exit Plan:
Partial TP at RSI2 > 60 (scaling out 50%).
Trailing Stop if price trends beyond $110.
🔍 Why This Works
Mean-Reversion Play: LRCX is oversold in the short term with room for a bounce.
Semiconductor Sector Strength: If broader tech rallies, LRCX could outperform.
👨💻 Trade Active? Drop a comment below!
#TradingView #RSI2 #ConnorsStrategy #Semiconductors #LRCX
Disclaimer: This is not financial advice. Always do your own analysis. 🚨
Entry: $98.59
Stop Loss (SL): $89.34 (~9.4% risk)
Take Profit (TP): $117.29 (~19% upside)
Risk-Reward Ratio: 1:2
📈 Trade Rationale
RSI2 Connors Buy Signal Triggered
LRCX hit an RSI2 ≤ 10 (oversold) on July 31, generating a high-probability buy signal per Connors' mean-reversion strategy.
Historically, stocks bouncing from extreme RSI2 lows tend to see short-term rallies.
Key Support & Resistance Levels
Support: Strong demand zone near $95–$98 (previous swing low).
Resistance: Next target at $117.29 (prior swing high + Fibonacci extension).
Stop Loss Placement
Placed below the recent swing low ($89.34) to avoid premature exits while respecting volatility.
📉 Risk Management
Position Size: Risk ≤ 1–2% of capital per trade.
Exit Plan:
Partial TP at RSI2 > 60 (scaling out 50%).
Trailing Stop if price trends beyond $110.
🔍 Why This Works
Mean-Reversion Play: LRCX is oversold in the short term with room for a bounce.
Semiconductor Sector Strength: If broader tech rallies, LRCX could outperform.
👨💻 Trade Active? Drop a comment below!
#TradingView #RSI2 #ConnorsStrategy #Semiconductors #LRCX
Disclaimer: This is not financial advice. Always do your own analysis. 🚨
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.