Will AMAT break the terminal pattern extending from March?

22 ก.ค. 2021

AMAT is in a coiling pattern that extends from March 2021 and may be looking to break out now.

Fundamentally:
* AMATs sales growth quarter-over-quarter has been more than 30%
* Its EPS is expected to grow over the coming year

Technically:
* AMAT is in a pennant pattern indicated by the white trend lines
* Recently broke back above a resistance of $135.34 which should now serve as support
* Is approaching a confluence of resistance at $142.12

Trade idea:
* AMAT is approaching a confluence of resistance around the $142.10 area
* Expect selling pressure around there
* Expect the $135.30 area to serve as support
* Look for buying opportunities around the $135.30 area

OR

* Wait for a daily break and close above $142 as a confirmation

Notes:
* A break and close below $135 would make $130 the next support level and a break below that could send the price to the bottom of the pattern
* A break above $142 can be expected in the coming week
* However, this may continue coiling using 135.34 as support and the white trend line as resistance until earnings

29 ก.ค. 2021

บันทึก

This is going accordingly.
It's continuing to coil using 135.34 as support and the white trend line as resistance.

Will it do this until earnings? Lets see

10 ส.ค. 2021

บันทึก

AMAT broke out and is now testing the wedge resistance and the $142 area as support.

Good time to buy!