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