Applied Materials: Another Bearish Topping Formation
-The Share have completed a weekly double top pattern by closing below 19.85.
-RSI momentum bearish breakaout
-Main Rising trend line was taken
-Price is challenging the long term 52-week SMA, where a continuation below it would increase the bearish chances.
-First target at 18.30, second target at 16.70.
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page thefxchannel.com
My best regards,
Technician
-RSI momentum bearish breakaout
-Main Rising trend line was taken
-Price is challenging the long term 52-week SMA, where a continuation below it would increase the bearish chances.
-First target at 18.30, second target at 16.70.
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page thefxchannel.com
My best regards,
Technician
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