In this daily bar chart of LRCX, below, we can see that the price of LRCX has moved up and even broke above the early December peak but not everything is in sync to say "bottom," in my opinion. Yes, prices have rallied and the slope of the 50-day moving average line is now positive. LRCX is also likely to close above the bottoming 200-day moving average line. These two math-driven price based indicators are better now but price is not the only thing we look at.
The trading volume only increased in recent days and the daily On-Balance-Volume (OBV) line ha been flat since the middle of September. I like to see buyers become more aggressive in bases and that has not been the case, so far, for LRCX.
The Moving Average Convergence Divergence (MACD) oscillator crossed above the zero line last week for an outright go long signal.
In this weekly bar chart of LRCX, below, we can see some technical improvement. Prices are testing and could well close above the declining 40-week moving average line. The $165-$195 area is likely to act as resistance as it was a support area on the way down from above $225.
The weekly OBV line was in a downtrend from November 2017 but a recent upturn looks like it has broken the decline.
The weekly MACD oscillator has crossed to the upside from below the zero line - this is a cover shorts buy signal.
In this first Point and Figure chart of LRCX, below, we can see that prices have nearly reached a $170.99 price target. This does not mean that prices cannot move higher but it could mean we see further sideways price action before renewed strength.
In this weekly Point and Figure chart of LRCX, below, we can see a long-term price target of $258.
Bottom line strategy: LRCX could move higher from here but I suspect we will see further sideways price action for the next several weeks.