LRCX - Price Consolidation Is About To Begin

Looking at the LRCX chart, the overall price is moving within the uptrend channel. On big picture, LRCX is still bullish. However, LRCX is predicted to begin price consolidation soon. This prediction is based on Elliott wave counts where LRCX has almost completed its small degree wave (3) movements (refer to the chart). Therefore, the wave (4) consolidation will begin soon. We predict the price will move within from its peak to ballpark value of USD405 range, and will be in sideway consolidation.