LRCX to test long term trend from 2012 or break out from here?

Lam Research is a value investment. I've priced it with long term growth taken into account to be a bargain buy around $190. That said, this equity is on sale. We could be on our way to test the long term trend from 2012 though around 105...which would be insanely cheap. If we break out of this current short term down trend, I will look to take this long. Macro economics gives me pause though. We are on the tail end of an economic cycle. Stay tuned and keep an eye on this one.