Based on good technical signals, LATTICE SEMICONDUCTOR CORP is potentially setting up for a breakout.

Our stockscreener has identified a possible breakout setup on LATTICE SEMICONDUCTOR CORP (NASDAQ:LSCC). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:LSCC for potential opportunities.

Technical analysis of NASDAQ:LSCC

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 8 out of 10 to LSCC. In the last year, LSCC was one of the better performers, but we do observe some doubts in the very recent evolution.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• Looking at the yearly performance, LSCC did better than 91% of all other stocks. On top of that, LSCC also shows a nice and consistent pattern of rising prices.
• LSCC is one of the better performing stocks in the Semiconductors & Semiconductor Equipment industry, it outperforms 74% of 105 stocks in the same industry.
• LSCC is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so LSCC is performing more or less in line with the market.
• 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 where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

Our latest full technical report of LSCC contains the most current technical analsysis.

How does the Setup look for NASDAQ:LSCC

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NASDAQ:LSCC currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

LSCC has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. 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 90.82, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for LSCC in the last couple of days, which is a good sign.

How can NASDAQ:LSCC be traded?

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

Of course, there are many ways to trade or not trade NASDAQ:LSCC and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.