$AMAT - Breakdown in progress
Updated
Nice lil descending triangle forming. Pretty tight resistance, almost makes it look like a wedge so I wouldn't be too quick to jump on some puts. Potential a bull trap if we see a breakout around / above $52.50. MFI in that parallel channel so we should see a next move coming soon. Healthy looking dip for the most part; most ideal short entry for bears would be if price could fakeout-breakout to test 180WMA ($53 more-or-less).
Note
Lovely
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