Applied Materials Technical Analysis: Another Bullish Breakout
Technical Analysis:
The stock remains in a long term bullish breakout mode, after breaking 17.40 key resistance level(check the link below for the long term breakout).
-The price completed a bullish breakout above the 50-days SMA
-The price completed a triple bottom by breaking 19.50 neckline of the pattern
-High Volume levels on breakout
-The price could be heading to resume the bullish trend after the recent pullback towards the key swing low/support level around 18.50.
-First target at the latest swing high at 21.35, followed by my long term target at 23.00 areas(see link below)
-A break back below 18.50 could invalidate this setup
Good Luck, Join me at twitter.com/thefxchannel
The stock remains in a long term bullish breakout mode, after breaking 17.40 key resistance level(check the link below for the long term breakout).
-The price completed a bullish breakout above the 50-days SMA
-The price completed a triple bottom by breaking 19.50 neckline of the pattern
-High Volume levels on breakout
-The price could be heading to resume the bullish trend after the recent pullback towards the key swing low/support level around 18.50.
-First target at the latest swing high at 21.35, followed by my long term target at 23.00 areas(see link below)
-A break back below 18.50 could invalidate this setup
Good Luck, Join me at twitter.com/thefxchannel
