Is Applied Materials Breaking Out?

Published on Thursday, 19 January 2012 06:32 Written by Christian Paolinetti

New York, January 19th (TradersHuddle.com) - Shares of Applied Materials, Inc. (NASDAQ:AMAT) closed the trading session at $12.12 just above calculated resistance at $11.88 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Applied Materials, Inc. (NASDAQ:AMAT) provides nanomanufacturing technology solutions for the semiconductor, flat panel display, solar, and related industries worldwide. The company provides a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits. Applied Materials' customers include semiconductor wafer and integrated circuit manufacturers, flat panel liquid crystal displays, solar cells, and other electronic devices manufacturers.

Applied Materials' stock was trading in a well defined range with support at $10.12 and resistance at $11.88, given that this range was broken traders will be closely monitoring the stock