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Watch for Shares of Applied Materials (AMAT) to Approach Resistance at $10.54
[November 19, 2012]

Watch for Shares of Applied Materials (AMAT) to Approach Resistance at $10.54

Nov 19, 2012 (SmarTrend(R) News Watch via COMTEX) -- Applied Materials (NASDAQ:AMAT) has opened bullishly above the pivot of $10.15 today and has reached the first level of resistance at $10.34. Investors may be interested in a cross of the next upside pivot targets of $10.54 and $10.93.

Applied Materials (NASDAQ:AMAT) has potential upside of 19.7% based on a current price of $10.30 and analysts' consensus price target of $12.33. The stock should find initial resistance at its 50-day moving average (MA) of $11.29 and further resistance at its 200-day MA of $11.56.

Over the past year, Applied Materials has traded in a range of $9.95 to $13.94 and is now at $10.30, 4% above that low. The 200-day and 50-day moving averages have moved 0.15% lower and 0.47% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Applied Materials on October 26th, 2012 by issuing a Downtrend alert when the shares were trading at $10.69. Since that call, shares of Applied Materials have fallen 5.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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