An up channel is evident which I think will continue with strong bullish runs.
I have used my pattern counting method to show the pattern I am looking at.
Corresponding points in 1,2,3
AMAT is just below the daily Balance Line, and just above the weekly Balance Line.
Price crossed a couple days ago the last daily fractal and tested the Balance Line and failed to cross it. This presents a good entry opportinuty.
The weekly presents good accumulated energy to be used in a down move.
Stop loss is price closing above the Balance Line (red)....
Dont have a timeframe but it will fail the channel, revisit it, then fail it and break down. It can keep this up channel going for a year, two, or a few months. But look out for the second break
$AMAT has a beautiful IH&S on the chart right now. Neckline at $110, which were currently building support above. The low was $70, so the measured move would be to the $140/$150 area. has been consolidating sideways for a while lagging behind other chips like $NVDA & $AMD, expect it to catch up soon..
- AMAT is in a rising trend channel in the short term.
- AMAT has given a positive signal from the inverse head and shoulders formation by a break up through the resistance at 119.
- Further rise to 128 or more is signaled.
- AMAT has support at 110 and resistance at 124.
- Overall assessed as technically positive for the short term.
*EP: Enter Price, SL:...
The PEAD projected a bullish outlook for $AMAT after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 75%.
AMAT is a strong company, clean financials, legacy business entrenchment (moat) and plenty of upside potential. However buying today is not favorable risk-reward, wait a few months to see if 2023 gives another ideal buying opportunity
Sector: Producer Manufacturing
Industry: Industrial Machinery
Applied Materials, Inc. provides manufacturing equipment,...
Signs of uptrend
- Candles challenging MA 200 (neutral)
- Expectation of Line C (1:1 of line B) is not met - weak downtrend
- New higher high being formed (dotted line) - downtrend breached
Waiting between $80 to $90 to enter, where more volume are being traded.
The PEAD projected a Bullish outlook for $AMAT after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 71.43%.
A level to watch and think about on AMAT. I am surprised AMAT made it this high, but I am quite confident it makes it no higher. I expect stocks to fall on CPI, I think semis will fall especially. Even if they don't, I'd watch this level on AMAT; I'm not sure it revisits it- I think the top is in. Make of it what you will. This is as good as it gets; I think...
Applied Materials has recently bounced along with other technology stocks. But some trend followers may look for it to roll over.
The first pattern on today’s chart is the line running along the highs of January and August. The chip-equipment stock is approaching that potential resistance area. Will it roll over again?
The most recent price action may have...
![AMAT: AMAT -Rising Trend Channel [SHORT TERM]](https://s3.tradingview.com/k/KLi99EPz_mid.png "AMAT -Rising Trend Channel [SHORT TERM]")
