Will LATTICE SEMICONDUCTOR CORP breakout?

We've identified LATTICE SEMICONDUCTOR CORP (NASDAQ:LSCC) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NASDAQ:LSCC for further developments.

Technical analysis of NASDAQ:LSCC

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Overall LSCC gets a technical rating of 9 out of 10. Both in the recent history as in the last year, LSCC has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that LSCC is one of the better performing stocks in the market, outperforming 92% of all stocks. On top of that, LSCC also shows a nice and consistent pattern of rising prices.
• LSCC is part of the Semiconductors & Semiconductor Equipment industry. There are 105 other stocks in this industry. LSCC outperforms 74% of them.
• LSCC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so LSCC is lagging the market slightly.
• In the last month LSCC has a been trading in the 84.70 - 98.18 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

For an up to date full technical analysis you can check the technical report of LSCC

Looking at the Setup

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NASDAQ:LSCC currently has a 9 as setup rating:

LSCC has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 95.50. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 91.51, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NASDAQ:LSCC?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

More breakout setups can be found in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.