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TMCNet:  Applied Materials (AMAT) Approaches New Downside Target of $13.50

[March 07, 2013]

Applied Materials (AMAT) Approaches New Downside Target of $13.50

Mar 07, 2013 (SmarTrend(R) News Watch via COMTEX) -- Applied Materials (NASDAQ:AMAT) has opened bearishly below the pivot of $13.73 today and has reached the first level of support at $13.59. Analysts will be watching for a cross of the next downside pivot targets of $13.50 and $13.28.

Applied Materials (NASDAQ:AMAT) has potential upside of 6.9% based on a current price of $13.54 and analysts' consensus price target of $14.48. The stock should discover initial support at its 50-day moving average (MA) of $12.73 and subsequent support at its 200-day MA of $11.46.

Applied Materials share prices have moved between a 52-week high of $13.99 and a 52-week low of $9.95 and are now trading 36% above that low price at $13.54 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Applied Materials on December 24th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.40. Since that recommendation, shares of Applied Materials have risen 20.0%. We continue to monitor AMAT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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