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Applied Materials Looks to Continue to Trade Above its Annual-High Share Price Today

By James Quinn

Applied Materials (NASDAQ:AMAT) traded at a new 52-week high today of $39.40. This new high was reached on below average trading volume as 1 million shares traded hands, while the average 30-day volume is approximately 10.9 million shares.

Potential upside of 4.7% exists for Applied Materials, based on a current level of $39.31 and analysts' average consensus price target of $41.14. Applied Materials shares have support at the 50-day moving average (MA) of $20.41 and additional support at the 200-day MA of $17.77.

In the past 52 weeks, Applied Materials share prices have been bracketed by a low of $14.25 and a high of $39.40 and are now at $39.31, 176% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.

Applied Materials, Inc. develops, manufactures, markets, and services semiconductor wafer fabrication equipment and related spare parts for the worldwide semiconductor industry. The Company's customers include semiconductor wafer and integrated circuit manufacturers, flat panel liquid crystal displays, solar photovoltaic cells and modules and other electronic devices manufacturers.

SmarTrend recommended that subscribers consider buying shares of Applied Materials on November 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.80. Since that recommendation, shares of Applied Materials have risen 27.5%. We continue to monitor AMAT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Applied Materials

Ticker(s): AMAT