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Semiconductor Equipment Industry Stocks Technical Analysis - AMATArchive
- 4/26/2024 -
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Applied Materials (AMAT) Technical Analysis
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| Summary:
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| | It was a first positive week for the Applied Materials (AMAT). During the week, the AMAT gained 13.61 points, or 7.17%, and closed at 203.38 on Friday, April 26, 2024. It was the best weekly gain since February 16, 2024. Weekly volume was -15% below average.
 Long-term trend: [See AMAT long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 7.80 and reached 214.91 on March 21, 2024. AMAT gained -207.11 points, or -2655.26%, in 799 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (35.99) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See AMAT medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 71.12 and reached 214.91 on March 21, 2024. AMAT gained -143.79 points, or -202.18%, in 75 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (168.52) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See AMAT weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See AMAT short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 214.91 and reached 186.86 on April 22, 2024. AMAT lost 28.05 points, or 13.05%, in 32 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 181.92 and resistance is at 214.21. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See AMAT daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 8, 2024. This is an indication that the short-term trend is down.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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