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Applied Material Rises 2.83% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Applied Material (NASDAQ:AMAT) traded in a range yesterday that spanned from a low of $43.05 to a high of $44.15. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $43.36 on volume of 5.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

Applied Material share prices have moved between a 52-week high of $58.40 and a 52-week low of $28.79 and are now trading 52% above that low price at $43.71 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

Keywords: rebounders applied material

Ticker(s): AMAT