Applied Materials: time go to short AMAT oversold to other semiconductors, time to go short or wait for good entrance
AMAT trade ideas
Sell Signal: 77.39Ingenuity Trading Model-
Geometric Markov Model : In probability theory, a Markov model is a stochastic model used to predict randomly changing systems. Markov Models are used in all aspects of life from Google search to daily weather forecast. The randomly changing systems we focus on are the equity, futures, and forex markets. The geometric element of the model is the fractal wave structure you can find on any chart you look at across any market and across all time dimensions.
Our model focuses on the current wave formation (current state)- geometric price formation along with its volume and volatility over a given time period and using that information to predict the future state- future price movement.
$AMAT with a projected neutral outlook after earningsWith a Positive under reaction following its earnings, $AMAT it projected to have a neutral outlook with the PEAD placing the stock in Drift A.
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Symmetrical TriangleSymmetrical Triangle can go either way
Looks like this one chose up
Triangles can be best described as horizontal trading patterns. At the start of its formation, the triangle is at its widest point. As the market continues to trade in a sideways pattern, the range of trading narrows and the point of the triangle is formed. In its simplest form, the triangle shows losing interest in an issue, both from the buy-side as well as the sell-side: the supply line diminishes to meet the demand.
Just an observation
Happy Trading
AMAT on watchSuper nice close on the day. It has tested this level a few time and been rejected hard so it needs a clean
break on volume. Itwill probably need a pull back and few runs to get through. If it does break the high it has good upside potential.
AMAT Long Breakout IdeaAMAT is attempting to break above 70 for the 3rd time. Looking for a 5 point move to 75. Stop below 69.
Cup and Handle Falling WedgeHandle low cam very close to mid cup which is 53.04. Amat has fallen from a bearish Rising wedge
Had it went under mid cup the pattern is invalidated
AMD also came very close to mid cup a little while ago before it broke out.
AMAT is in a falling wedge pattern as well
The falling wedge can be a reversal pattern, but it can also fit into the continuation category. As a continuation pattern, the falling wedge will still slope down, but the slope will be against the prevailing uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend. Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns. This is sloping down with the prevailing trend. Amat has been in the falling wedge for over 3 weeks which is also a requirement to become a FW , and not a bear flag
If it breaks up and out of the FW , then perhaps it will reach its targets
Be safe
Not a recommendation
Watch that bottom lineMy favorite of the "classics" as I'd like to call it. Put that top line wherever you want, but its the bottom line that matters.
AMATAMAT nearest support at 54.20 and Resistance at 56.37 & 58.02.
From wave perception, AMAT might wnna make diagnol and if that happen, short till price 39.46. TAYOR
AMATBased on my analysis:
1. AMAT formed rising wedge's chart pattern (August 20).
2. Breakout with volume above average.
3. Stochastic formed a downward crossing indicating the price will continue downwards
4. Now, AMAT has reached the price target (1) 61.40 USD, & will go towards the price target (2) 60.40 USD.
Syeikh Hafiz
Stock Market Analyst
AMAT LongI've just spotted a nice pattern on AMAT.
We can see 3 recent bounces off the 50 EMA, and the stochastic indicator at the lows. with a rapid trendline up, this gives a good buying oppotunity.
Best of luck to all!
Applied Materials - Bullish pullback trade ?Applied Materials ( NASDAQ:AMAT ) has an interesting chart in that it tends to pull back below the 21 EMA on the daily chart. I tried to identify a clear area of support for each pullback, but it seems arbitrary. You can see the Keltner Channel falls just short of where the stock reverses the second time and the most recent pullback is actually pulling back to the 34 EMA which I initially did not want to put on my chart to avoid too many lines... but I figured, seeing is believing, so I put a big fat orange line to add to the chart.
AMAT is an upward trending stock and has decent volume...approx 5 million shares traded today...I sorted the S&P 500 constituents by volume and AMAT was #19 in volume (#1 being highest volume which was GE). I did see other stocks that were pulling back as well, but something about their charts didn't convince me.
OK prediction time... so based on what I see on the charts I think we might see AMAT find support at $62.65 ... from there I think its going to ride back up. It is oversold based on the 60 min time frame, but not quite there on the daily time frame... so keep an eye on it tomorrow. If it comes down to $62.65 or to the lower Keltner channel band I wouldn't be surprised... but be wary if it breaks below that. Those considering to go long now, might be a little early...or could be lucky and end up hitting it right on the nose because it doesn't tend to stray too far below the 21 EMA and today's red candle was a decent size.
