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Upgrade Alert for Applied Materials (AMAT)Jun 12, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Applied Materials (NASDAQ:AMAT) was upgraded from Neutral to Buy at Citigroup today. The stock closed yesterday at $15.19 on volume of 8.5 million shares, below average daily volume of 14.1 million. Applied Materials (NASDAQ:AMAT) defies analysts with a current price ($15.19) 5.4% above its average consensus price target of $14.38. Applied Materials shares have support at the 50-day moving average (MA) of $14.33 and additional support at the 200-day MA of $12.51. Applied Materials, Inc. develops, manufactures, markets, and services semiconductor wafer fabrication equipment and related spare parts for the worldwide semiconductor industry. The Company's customers include semiconductor wafer and integrated circuit manufacturers, flat panel liquid crystal displays, solar photovoltaic cells and modules and other electronic devices manufacturers. Applied Materials share prices have moved between a 52-week high of $15.64 and a 52-week low of $9.95 and closed yesterday at 53% above that low price at $15.19 per share. The 200-day and 50-day moving averages have moved 0.42% higher and 0.83% higher over the past week, respectively. SmarTrend recommended that subscribers consider buying shares of Applied Materials on December 24th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.40. Since that recommendation, shares of Applied Materials have risen 33.3%. We continue to monitor AMAT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |