Stock Markets Analysis and Opinion
Applied Materials Stock Could Break Lower
2022.05.23 12:26
When we look at the Applied Materials (NASDAQ:AMAT) chart, we see its climb from the $112 range on May 14 to the $117 on May 19, where it struggled to consolidate, leading to the retraction back to the $108 on May 20.
Since then, it made another attempt to reclaim the $112 range but could not climb further. It fell into the $102 range. It was trading in the $106.49 range having the closest support level at the $102. Today we can expect a move towards and below the $102 support level, possibly near $100. If, however, it manages to hold on to the current level, then a move towards the $110 can be expected.
Applied Materials price chart.
