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Applied Materials (AMAT) Breaks Through Resistance at $12.99
[February 01, 2013]

Applied Materials (AMAT) Breaks Through Resistance at $12.99

Feb 01, 2013 (SmarTrend(R) News Watch via COMTEX) -- Applied Materials (NASDAQ:AMAT) has opened bullishly above the pivot of $12.90 today and has reached the first level of resistance at $12.99. Analysts will be watching for a cross of the next upside pivot targets of $13.08 and $13.26.

In the past 52 weeks, Applied Materials share prices have been bracketed by a low of $9.95 and a high of $13.94 and are now at $13.12, 32% above that low price. The 200-day and 50-day moving averages have moved 0.18% higher and 1.82% higher over the past week, respectively.

Applied Materials (NASDAQ:AMAT) is currently priced 2.3% above its average consensus analyst price target of $12.81. The stock should discover initial support at its 50-day moving average (MA) of $11.48 and subsequent support at its 200-day MA of $11.22.


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 13.3%. 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 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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