Applied Materials Stock Forecast
Green day on Tuesday for Applied Materials
(Updated on Jul 02, 2024)
The Applied Materials stock price gained 1.45% on the last trading day (Tuesday, 2nd Jul 2024), rising from $237.41 to $240.86. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.52% from a day low at $235.08 to a day high of $241.00. The price has risen in 6 of the last 10 days but is still down by -0.82% for this period. Volume fell on the last day by -904 thousand shares and in total, 3 million shares were bought and sold for approximately $746.17 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.78% during the next 3 months and, with a 90% probability hold a price between $266.38 and $304.14 at the end of this 3-month period.
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AMAT Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -2.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Applied Materials stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $234.72 and $225.76. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Applied Materials stock
Applied Materials finds support from accumulated volume at $235.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $5.92 between high and low, or 2.52%. For the last week, the stock has had daily average volatility of 2.63%.
Our recommended stop-loss: $232.78 (-3.36%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (AMAT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Applied Materials to open at $238.98, and during the day (based on 14 day Average True Range), to move between $234.30 and $247.42, which gives a possible trading interval of +/-$6.56 (+/-2.72%) up or down from last closing price. If Applied Materials takes out the full calculated possible swing range there will be an estimated 5.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $242.86 (0.83%) than the support at $235.41 (2.26%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Applied Materials stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Applied Materials stock to perform well in the short-term.
Current score: 3.315 Buy Candidate Unchanged
Predicted Opening Price for Applied Materials of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $238.98 ( 0.781%) | $240.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMAT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 244.90 | 1.68% |
| R2 | 242.64 | 0.738% |
| R1 | 241.24 | 0.158% |
| Price | 240.86 | |
| S1 | 236.72 | -1.72% |
| S2 | 235.32 | -2.30% |
| S3 | 233.06 | -3.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 247.83 | 2.89% |
| R1 | 242.86 | 0.83% |
| Price | 240.86 | |
| S1 | 235.41 | -2.26% |
| S2 | 223.37 | -7.26% |
| S3 | 215.08 | -10.70% |
AMAT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Aug 22, 2024 | Sep 12, 2024 | $0.400 | 0.166% |
| 2 | Mar 11, 2024 | May 22, 2024 | Jun 13, 2024 | $0.400 | 0.168% |
| 3 | Dec 08, 2023 | Feb 21, 2024 | Mar 14, 2024 | $0.320 | 0.159% |
| 4 | Sep 07, 2023 | Nov 22, 2023 | Dec 14, 2023 | $0.320 | 0.198% |
| 5 | Jun 08, 2023 | Aug 23, 2023 | Sep 14, 2023 | $0.320 | 0.221% |
FAQ
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