Trading the Setup In Applied Materials

New York, April 3rd (TradersHuddle.com) - Applied Materials, Inc. (NASDAQ:AMAT) ended the trading session at $13.24, near its 50 day moving average set at $13.34. Applied Materials' price action placed the stock below this important level, which makes it difficult to be bought, as the stock will certainly face resistance as it approaches its 50 day moving average.

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.

The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $12.80 and resistance at $13.54. These levels will be closely monitored, as they provide great insight into the latest price dynamics.

If traders want to establish a position in Applied Materials, given the resistance expected as the stock approaches its 50 day moving average, a trade might materialize as the stock manages to break this important technical level. After the breakout, the 50 day moving average could be used as support going forward. However, until the break materializes, buying the stock is basically a gamble with 50-50 chance.



Related Articles

    Related Partner Headlines

      Real Money Pro from TheStreet: Headlined by legendary hedge fund manager Doug Kass, our team of market technicians and professional traders hand you unique perspectives and breakthrough investment opportunities. Access this exciting service -- Real Money Pro -- FREE, right now!

      TradersHuddle Search

      Stock Search:


      Site Search:

      Loading

      Technical Scans

      Stock Market

      Loading
      Chart
      o Dow Jones 18,473.75 ▼19.31 (-0.10%)
      o S&P 500 2,169.18 ▲0.70 (0.03%)
      o NASDAQ 5,110.05 ▲12.42 (0.24%)
      INDEXDJX:.DJI

      Dow Jones

      Company ID [INDEXDJX:.DJI] Last trade:18,473.75 Trade time:4:38PM EDT Value change:▼19.31 (-0.10%)
      INDEXSP:.INX

      S&P 500

      Company ID [INDEXSP:.INX] Last trade:2,169.18 Trade time:4:38PM EDT Value change:▲0.70 (0.03%)
      INDEXNASDAQ:.IXIC

      NASDAQ

      Company ID [INDEXNASDAQ:.IXIC] Last trade:5,110.05 Trade time:5:15PM EDT Value change:▲12.42 (0.24%)

      In The Wires

      Copyright © 2013 TradersHuddle.com. All Rights Reserved.