LRCX exceeds its upside target

We have received some requests for an update on Lam Research (LRCX).

LRCX has rallied sharply from the bullish consolidation pattern highlighted in this blog on December 29, 2025. The stock has surpassed the 204.00-208.91 range, which is the cup and handle pattern target and a 161.8% extension.

What now?

If long LRCX, it might make sense to lighten up and/or raise stops since the stock has met and exceeded its upside targets. The low of the 1/9 big candle at 202.72 (200 area) could provide a risk management level. However, if LRCX holds the low 200s, then a move to 246, which is the 100% extension of the April-November 2025 rally projected from the late November low, is not ruled out.

Chart 1: Lam Research (LRCX): Daily