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Applied Material: 52-Week High Recently Eclipsed (AMAT)

By Nick Russo

Applied Material (NASDAQ:AMAT) traded at a new 52-week high today of $53.25. This new high was reached on below average trading volume as 410,000 shares traded hands, while the average 30-day volume is approximately 6.8 million shares.

Applied Material (NASDAQ:AMAT) has potential upside of 32.4% based on a current price of $53.06 and analysts' consensus price target of $70.28. The stock should discover initial support at its 50-day moving average (MA) of $49.37 and subsequent support at its 200-day MA of $43.35.

Applied Materials, Inc. provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets.

In the past 52 weeks, Applied Material share prices have been bracketed by a low of $28.79 and a high of $53.25 and are now at $53.06, 84% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.7%.

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: 52 week high/lows applied material

Ticker(s): AMAT