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Applied Material (AMAT) Breaks Through Resistance at $43.98

By David Diaz

Shares of Applied Material (NASDAQ:AMAT) opened today above their pivot of $43.81 and have already reached the first level of resistance at $43.98. Investors may be interested in a cross of the next upside pivot targets of $44.26 and $44.71.

Over the past year, Applied Material has traded in a range of $28.79 to $58.40 and is now at $44.40, 54% above that low. The 200-day and 50-day moving averages have moved 0.1% lower and 0.61% higher over the past week, respectively.

Applied Material (NASDAQ:AMAT) has potential upside of 58.3% based on a current price of $44.40 and analysts' consensus price target of $70.28. The stock should discover initial support at its 50-day moving average (MA) of $40.10 and subsequent support at its 200-day MA of $39.09.

SmarTrend is monitoring the recent change of momentum in Applied Material. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Applied Material in search of a potential trend change.

Keywords: pivot alerts applied material

Ticker(s): AMAT