The Greedy Trader Weekly Analysis
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Monthly Price vs. Trendline:Testing Resistance
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Trend Line Resistance Trend Line Support Resistance.

Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.

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- 3/15/2024 -
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Applied Materials (AMAT) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance lineBroken trend resistance line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Applied Materials (AMAT). During the week, the AMAT dropped -6.91 points, or -3.36%, and closed at 198.65 on Friday, March 15, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was 13% above average.

AMAT is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See AMAT long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 7.80 and reached 214.26 on March 7, 2024. AMAT gained -206.46 points, or -2646.92%, in 797 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (35.76) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See AMAT medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 71.12 and reached 214.26 on March 7, 2024. AMAT gained -143.14 points, or -201.27%, in 73 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (161.11) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See AMAT weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See AMAT short-term trend chart]
A short-term uptrend had started on January 5, 2024 at 148.06 and reached 214.26 on March 7, 2024. AMAT gained -66.20 points, or -44.71%, in 62 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 184.48 and resistance is at 221.68. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See AMAT daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.93
Williams' Percentage Range (W%R) 52.20
Lane's Stochastic (%D-Slow) 23.75
Greed/Fear Indicator (GFI) 38.81
Moving Average Converg./Diverg. (MACD) 8.11
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 73.76
Williams' Percentage Range (W%R) 17.40
Overbought
Lane's Stochastic (%D-Slow) 87.87
Overbought
Greed/Fear Indicator (GFI) 76.58
Moving Average Converg./Diverg. (MACD) 11.14
Trading Signals
Description Value Chart
Weekly Trendline Resistance 221.68
Parabolic System 212.82
Upper Bollinger Band 211.05
Weekly Stochastic Crossing 207.11
20 Day Moving Average 202.26
Daily Stochastic Crossing 200.94
Price 198.65
Quarterly Trendline Resistance 188.99
Lower Bollinger Band 186.34
Weekly Trendline Support 184.48
50 Day Moving Average 180.56
Monthly Trendline Resistance 178.73
Quarterly Trendline Support 161.11
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Semiconductor Equipment 106
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 214.26
High Date 03/07/2024
Low 197.00
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 221.68
Support 184.48
Low 148.06
Low Date 01/05/2024
High 214.26
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 178.73
Support 158.90
Low 129.21
Low Date 10/31/2023
High 214.26
High Date 03/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 188.99
Support 161.11
Low 71.12
Low Date 10/13/2022
High 214.26
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 94.82
Support 35.76
Low 7.80
Low Date 11/21/2008
High 214.26
High Date 03/07/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.