Close to the 200 Day - Applied Materials

Published on Friday, 27 January 2012 08:32 Written by TradersHuddle Staff

New York, January 27th (TradersHuddle.com) - Shares of Applied Materials, Inc. (NASDAQ:AMAT) traded at $12.40 close to its 200 day moving average currently set at $12.18. Applied Materials' price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

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.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $10.12 and calculated resistance at $12.55. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Applied Materials stock.

Traders wanting to establish a position on Applied Materials will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.