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Applied Materials Falls 2.35% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Applied Materials (NASDAQ:AMAT) traded in a range yesterday that spanned from a low of $38.30 to a high of $39.81. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $38.85 on volume of 6.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 28.5%. We continue to monitor AMAT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Applied Materials share prices have moved between a 52-week high of $39.81 and a 52-week low of $14.25 and are now trading 172% above that low price at $38.70 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

Keywords: rebounders Applied Materials

Ticker(s): AMAT