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Watch for Applied Material to Potentially Rebound After Falling 2.18% Yesterday

By David Diaz

Applied Material (NASDAQ:AMAT) traded in a range yesterday that spanned from a low of $51.50 to a high of $52.86. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $52.24 on volume of 3.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Applied Material has traded in a range of $36.64 to $69.44 and is now at $51.20, 40% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

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: rebounders applied material

Ticker(s): AMAT