How the price action of Applied Materials (AMAT) is used to our Advantage

February 24, 2023, 05:45 amET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for AMAT

• Buy AMAT slightly over 112.52 target n/a stop loss @ 112.2. Details

The technical summary data tells us to buy AMAT near 112.52, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 112.2 to protect against excessive loss in case the stock begins to move against the trade. 112.52 is the first level of support below 112.91, and by rule, any test of support is a buy signal. In this case, if support 112.52 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for AMAT

• Buy AMAT slightly over 114.72, target n/a, Stop Loss @ 114.39 Details

If 114.72 begins to break higher, the technical summary data tells us to buy AMAT just slightly over 114.72, with an upside target of n/a. The data also tells us to set a stop loss @ 114.39 in case the stock turns against the trade. 114.72 is the first level of resistance above 112.91, and by rule, any break above resistance is a buy signal. In this case, 114.72, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AMAT slightly near 114.72, target 112.52, Stop Loss @ 115.05. Details

The technical summary data is suggesting a short of AMAT if it tests 114.72 with a downside target of 112.52. We should have a stop loss in place at 115.05 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 114.72, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for AMAT

• Buy AMAT slightly over 114.72, target n/a, Stop Loss @ 114.45 Details

If 114.72 begins to break higher, the technical summary data tells us to buy AMAT just slightly over 114.72, with an upside target of n/a. The data also tells us to set a stop loss @ 114.45 in case the stock turns against the trade. 114.72 is the first level of resistance above 112.91, and by rule, any break above resistance is a buy signal. In this case, 114.72, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AMAT slightly near 114.72, target 112.52, Stop Loss @ 114.99. Details

The technical summary data is suggesting a short of AMAT if it tests 114.72 with a downside target of 112.52. We should have a stop loss in place at 114.99 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 114.72, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

AMAT Ratings for February 24:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Weak
P1	0	0	79.45
P2	107.71	109.92	95.61
P3	111.26	114.72	112.52

Chart of AMAT with Longer Term Pivots

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Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Applied Materials (NASDAQ: AMAT) data table below can help you with price action, and we have more details too. Trading plans for AMAT are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.