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Applied Material (AMAT) Breaks Through Support at $44.81

By Nick Russo

Shares of Applied Material (NASDAQ:AMAT) opened today below their pivot of $45.05 and have already reached the first level of support at $44.81. Analysts will be watching for a cross of the next downside pivot targets of $44.51 and $43.97.

In the past 52 weeks, shares of Applied Material have traded between a low of $22.17 and a high of $47.86 and are now at $44.11, which is 99% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

There is potential upside of 16.7% for shares of Applied Material based on a current price of $44.11 and an average consensus analyst price target of $51.47. Applied Material shares have support at the 50-day moving average (MA) of $20.41 and additional support at the 200-day MA of $17.77.

SmarTrend is tracking the current trend status for Applied Material and will alert subscribers who have AMAT in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts applied material

Ticker(s): AMAT