AMAT has been forming a falling wedge pattern. A falling edge pattern is a bullish chart pattern, therefore it could signal that AMAT is currently consolidating and investors can expect a continuation in AMAT's long term bullish trend . Furthermore, the divergence between the MACD and Stochastic indicators (moving upwards) and the price of AMAT (moving downward), could suggest an upcoming rally as the MACD and Stochastic are leading indicators. Moreover, short interest has decreased from 18,299,338 to 15,061,436 in the past month, suggesting bearish sentiment has been faltering. All this suggests an upward movement in price, which would cause an upward breakout from the falling wedge .
Fundamental:
AMAT has been able to consistently meet and beat analyst expectations for the past billion years, maintain a strong balance sheet and constantly remain dynamically efficient by innovating and creating cutting -edge technology. However, growing tension between the USA and China has resulted in AMAT's price falling recently, despite little change in the company's underlying intrinsic value. Therefore, anyone with at least 2 brain cells should be able to see that AMAT is trading at an absolute steal right now, with my invaluable buy stamp of approval.
Price Target:
The price target should be the initial height of the falling wedge added onto the price in which the breakout begins to occur. If AMAT breaks out of the wedge , a price target of roughly $64.00 is reasonable.
Fundamental:
AMAT has been able to consistently meet and beat analyst expectations for the past billion years, maintain a strong balance sheet and constantly remain dynamically efficient by innovating and creating cutting -edge technology. However, growing tension between the USA and China has resulted in AMAT's price falling recently, despite little change in the company's underlying intrinsic value. Therefore, anyone with at least 2 brain cells should be able to see that AMAT is trading at an absolute steal right now, with my invaluable buy stamp of approval.
Price Target:
The price target should be the initial height of the falling wedge added onto the price in which the breakout begins to occur. If AMAT breaks out of the wedge , a price target of roughly $64.00 is reasonable.