AMAT

By Steve Abraham on Jul 16, 2007

A reader wants to know about Applied Materials. This was a darling of the 90′s bull market that hasn’t regained its shine. However, things aren’t as bad as they used to be. The stock is trending upward in a fairly tight range. AMAT expects to earn .31 when it announces earnings on August 14. Intel may be a way to play AMAT this week. If INTC announces blowout earnings then I think AMAT will go up in sympathy. Here is the chart:

This entry was posted on Monday, July 16th, 2007 at 3:38 pm and is filed under Stock Charts. You can skip to the end and leave a response. Pinging is currently not allowed.

6 Responses to “AMAT”

By Trent on July 16th, 2007 at 8:43 pm

The fundamentals look horrible but at some point the market starts looking past the current down cycle to the next up cycle. A high-volume breakout might indeed mark that point.

By cl on July 16th, 2007 at 9:40 pm

I believe INTC is going to beat earnings on Tuesday afternoon. Tomorrow we should see a rally ahead of earnings and list the sector up (both Tuesday and Wednesday). It’s probably a good idea to own some ahead of earnings.

By CL on July 17th, 2007 at 4:39 pm

What a jump today ahead of INTC’s earnings!! Well, INTC just reported earnings and traded lower AH, and so is AMAT. AMAT should retrace back to the low $20s again. Good channel play IMO.

By Steve Abraham on July 18th, 2007 at 2:35 pm

Thanks for your comment. I dont think the stock goes to the low 20′s. I think yesterday’s breakout was for real and the stock held up well today on a down day. Also, the stock is likely to creep up before earnings are announced in August.

By CL on July 19th, 2007 at 2:12 am

HI Steve, you are correct. AMAT held up well today in the mid 21s range. I meant to type “low 21s”, not “low 20s”. So you said that AMAT broke out on Tuesday and broke the trading range, does it mean it should trade higher above $21 from now on? Could you please suggest a good adding point? Or adding anywhere now is safe? Thanks.

By Veronica Meadows on December 24th, 2007 at 5:36 pm

Wize Trade suggests buying low and selling quick.