The Greedy Trader Weekly Analysis
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- 3/28/2024 -
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Applied Materials (AMAT) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtStochastic has declined below the signal lineRelative Strength Index and MACD bearish divergenceBroken trend resistance lineBroken trend resistance line
Daily :
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It was the negative week for the Applied Materials (AMAT). During the week, the AMAT dropped -4.02 points, or -1.91%, and closed at 206.23 on Thursday, March 28, 2024. Weekly volume was -33% below average.

Long-term trend: [See AMAT long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 7.80 and reached 214.91 on March 21, 2024. AMAT gained -207.11 points, or -2655.26%, in 799 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (35.84) 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 214.91 on March 21, 2024. AMAT gained -143.79 points, or -202.18%, in 75 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (163.41) 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 Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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, Relative Strength Index 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 relatively 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 downtrend had started on March 21, 2024 at 214.91 and reached 202.71 on March 28, 2024. AMAT lost 12.20 points, or 5.68%, in 7 days. The price is now at the 28.85% retracement level.

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

The daily MACD line is below its signal line since March 8, 2024. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.99
Williams' Percentage Range (W%R) 41.00
Lane's Stochastic (%D-Slow) 60.82
Greed/Fear Indicator (GFI) 56.92
Moving Average Converg./Diverg. (MACD) 5.33
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.37
Bearish
Williams' Percentage Range (W%R) 9.70
Strong Overbought
Lane's Stochastic (%D-Slow) 87.47
Overbought
Greed/Fear Indicator (GFI) 80.24
Overbought
Moving Average Converg./Diverg. (MACD) 13.00 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 211.72
Weekly Stochastic Crossing 208.39
Daily Stochastic Crossing 207.43
Price 206.23
20 Day Moving Average 206.06
Parabolic System 199.84
Lower Bollinger Band 194.99
Quarterly Trendline Resistance 191.29
50 Day Moving Average 190.49
Sector and Industry
Description Name Rank
Sector Information Technology 7
Industry Semiconductor Equipment 96
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 214.91
High Date 03/21/2024
Low 202.71
Low Date 03/28/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 197.00
Low Date 03/15/2024
High 214.91
High Date 03/21/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 129.21
Low Date 10/31/2023
High 214.91
High Date 03/21/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 191.29
Support 163.41
Low 71.12
Low Date 10/13/2022
High 214.91
High Date 03/21/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 95.05
Support 35.84
Low 7.80
Low Date 11/21/2008
High 214.91
High Date 03/21/2024
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.