Applied Materials, Inc. (AMAT) Technical Analysis and Chart Patterns

Applied Materials, Inc. (NASDAQ:AMAT) gained 2.08% in yesterday’s session, going up from its prior closing price of $46.10 to $47.06, and has now recorded rally in 5 consecutive sessions. Many in the market will be closely watching whether this winning streak is sustainable or take a temporary pause for the next couple of trading sessions. The stock price went upward in 6 of the last 10 days and has generated 3.5% during the last two weeks. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 3.63 million more shares exchanged hands compared with prior day. In total, 11.12 M shares exchanged hands for about $523.12 million.

Inside AMAT’s Recent Trend

Applied Materials, Inc. (AMAT) lies in the middle of a wide and weak rising trend in the short term and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 3.27% over the course of a quarter and, with 90% chance the price will be floating in the range of $43.63 and $49.88 in this timeframe.

Applied Materials, Inc. Technical Signals

AMAT has witnessed its long term and short term MA triggering a buy signal. Many traders watch for short-term averages to cross above long-term averages to signal the beginning of a uptrend. Upon corrections, the price will meet support from the averages between $45.53 and $44.27. A break down through these support points will trigger sell signals. Its pivot point low generated buy signal on Friday September 08, 2017, which calls for additional surge until the stock forms a new pivot point high. There was increase in both volume and price. This is usually interpreted as a good sign as traders widely believe rising stock should see increasing volume.

Applied Materials, Inc. (NASDAQ:AMAT) Support And Resistance Levels

Applied Materials, Inc. (AMAT) recorded volume accumulation so there will probably be a surplus of buyers at $46.04. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $47.18, $47.25 and $47.45.

Accumulated volume is going to prevent the price from rising further at $47.18 and this action will lead the price to take a temporary pause or stay muted for a few days.

Applied Materials, Inc. (AMAT) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $1.58 (3.45%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 2.30%.

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