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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 cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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

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