Here is an interesting chart I created.
DAILY CHART
DAILY OVERVIEW
Applied Materials, Inc. (1.10%) is
currently trading very close to a notable support around $15 that has been tested
again in the past few days. Is very probable that $AMAC will see a trend
reversal in the upcoming weeks if the support holds strong, otherwise, I would
place a tight stop order right below 14.90.
The importance of the $15 dollar mark for $AMAC relies on seven
main events:
(1)
Testing
10-month ascending trend line
(2)
Testing 4-month horizontal trend line
(3)
Testing most significant Probability Cone support
(4)
Testing short-term Regression Channel lower
descending line(red)
(5)
Trading at 25% Retracement from 11/16/12 bottom
(6)
Oversold RSI
(7)
Bullish secondary trend with higher highs & higher
lows
Some events to be aware of:
(1)
$AMAT trading below 20-50sma in daily time frame
(2)
MACD still below divergence line & signal
line still bearish
Alexander Schachter
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