Applied Materials Stock Forecast

Applied Materials stock downgraded from Buy Candidate to Sell Candidate after Monday trading session.
(Updated on Apr 15, 2024)

AMAT Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Applied Materials stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $209.01 and $206.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -3.43%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Applied Materials stock

Applied Materials finds support from accumulated volume at $199.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $10.18 between high and low, or 4.98%. For the last week the stock has had daily average volatility of 2.53%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (AMAT) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Applied Materials to open at $208.13, and during the day (based on 14 day Average True Range), to move between $199.70 and $211.66, which gives a possible trading interval of +/-$5.98 (+/-2.91%) up or down from last closing price. If Applied Materials takes out the full calculated possible swing range there will be an estimated 5.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $209.49 (1.85%) than the support at $199.57 (2.97%), 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?

The Applied Materials stock holds several negative signals and despite the positive trend, we believe Applied Materials will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -2.715 Sell Candidate Downgraded

Predicted Opening Price for Applied Materials of Tuesday, April 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.