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Applied Materials (AMAT) Approaches New Downside Target of $13.50
[March 07, 2013]

Applied Materials (AMAT) Approaches New Downside Target of $13.50

Mar 07, 2013 (SmarTrend(R) News Watch via COMTEX) -- Applied Materials (NASDAQ:AMAT) has opened bearishly below the pivot of $13.73 today and has reached the first level of support at $13.59. Analysts will be watching for a cross of the next downside pivot targets of $13.50 and $13.28.

Applied Materials (NASDAQ:AMAT) has potential upside of 6.9% based on a current price of $13.54 and analysts' consensus price target of $14.48. The stock should discover initial support at its 50-day moving average (MA) of $12.73 and subsequent support at its 200-day MA of $11.46.

Applied Materials share prices have moved between a 52-week high of $13.99 and a 52-week low of $9.95 and are now trading 36% above that low price at $13.54 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.1%.

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 20.0%. 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 --------------------------------------------------------------------------------------------- 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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