Downtrends Finding Support for the Next Uptrend: AMAT ExampleNASDAQ:AMAT was over-speculated in 2023 and then had a top formation that trended down starting in July 2024. This is still considered technically to be an intermediate-term trend correction. The selling started at an all-time high.
HFTs are constantly in the mix, selling down. However, the shift of sentiment has started and there are gaps up recently.
It is NOT in a buyback mode but the stock is finding support from the 2021 highs, which is strong support. This should provide the basis for the beginning of a bottom formation.
