Applied Materials (AMAT) — chip sector leader with strong activity.
Right now AMAT is in a bullish structure on the 1H, but price is starting to stall under a major resistance zone, so this week is more about breakout vs consolidation.
On the 1H, we had a clean CHoCH to the upside, followed by a strong impulse and a confirmed BOS. Since then, price has been holding higher lows and respecting the rising channel. That tells me the trend is still bullish overall, but momentum has slowed near the top.
Price is currently sitting around 327–331, right under a key resistance band.
15M Confirmation
On the 15M, structure is still bullish, but price has gone into tight consolidation near highs.
We’re seeing: • Higher lows still intact • But multiple rejections near 330–331 • Volume drying up
This usually means the market is either: • Building energy for a breakout or • Getting ready for a short pullback before continuation
So the 15M is still supporting the 1H bullish bias, but we’re clearly in a decision zone.
GEX Option Data
From GEX, the map is very clear here.
Major call and gamma resistance sits around 337–340. This is the main upside ceiling for this week.
Below that, we have layered call resistance around: • 332–335 • 330 area
On the downside, strongest put support sits at: • 320 • Then 312–305
So GEX is basically saying: Upside is capped near 337–340. As long as 320 holds, downside is limited and trend stays intact.
How I See This Week
Base case, most likely scenario:
AMAT continues to range or consolidate between 320 and 331, then attempts a breakout later in the week.
If price can accept above 331–332, I can see: • 335 • 337 • 340
This would be clean bullish continuation.
Pullback Scenario
If AMAT rejects again from 330–331, I’d expect a controlled pullback toward: • 325 • 322 • 320
As long as price holds above 320, this is still a healthy bullish pullback.
If 320 breaks clean, then: • 315 • 312 • 305 become realistic downside targets this week.
That would signal a deeper reset instead of continuation.
Trading Thoughts
Bias stays bullish to neutral.
Best opportunities this week: • Buy pullbacks near 322–320 if structure holds • Breakout longs only if we can accept above 332
I’d avoid chasing longs directly into 330–331 resistance. Shorts only make sense if we see a clear rejection and breakdown below 320.
Final Thought
Structure is bullish on the 1H. The 15M is confirming the trend but showing consolidation near resistance. GEX says upside is capped short term, but downside is protected at 320.
As long as AMAT holds above 320, the path of least resistance is still higher. 331–332 is the key level that decides if we break higher… or pull back first.
Disclaimer This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
Right now AMAT is in a bullish structure on the 1H, but price is starting to stall under a major resistance zone, so this week is more about breakout vs consolidation.
On the 1H, we had a clean CHoCH to the upside, followed by a strong impulse and a confirmed BOS. Since then, price has been holding higher lows and respecting the rising channel. That tells me the trend is still bullish overall, but momentum has slowed near the top.
Price is currently sitting around 327–331, right under a key resistance band.
15M Confirmation
On the 15M, structure is still bullish, but price has gone into tight consolidation near highs.
We’re seeing: • Higher lows still intact • But multiple rejections near 330–331 • Volume drying up
This usually means the market is either: • Building energy for a breakout or • Getting ready for a short pullback before continuation
So the 15M is still supporting the 1H bullish bias, but we’re clearly in a decision zone.
GEX Option Data
From GEX, the map is very clear here.
Major call and gamma resistance sits around 337–340. This is the main upside ceiling for this week.
Below that, we have layered call resistance around: • 332–335 • 330 area
On the downside, strongest put support sits at: • 320 • Then 312–305
So GEX is basically saying: Upside is capped near 337–340. As long as 320 holds, downside is limited and trend stays intact.
How I See This Week
Base case, most likely scenario:
AMAT continues to range or consolidate between 320 and 331, then attempts a breakout later in the week.
If price can accept above 331–332, I can see: • 335 • 337 • 340
This would be clean bullish continuation.
Pullback Scenario
If AMAT rejects again from 330–331, I’d expect a controlled pullback toward: • 325 • 322 • 320
As long as price holds above 320, this is still a healthy bullish pullback.
If 320 breaks clean, then: • 315 • 312 • 305 become realistic downside targets this week.
That would signal a deeper reset instead of continuation.
Trading Thoughts
Bias stays bullish to neutral.
Best opportunities this week: • Buy pullbacks near 322–320 if structure holds • Breakout longs only if we can accept above 332
I’d avoid chasing longs directly into 330–331 resistance. Shorts only make sense if we see a clear rejection and breakdown below 320.
Final Thought
Structure is bullish on the 1H. The 15M is confirming the trend but showing consolidation near resistance. GEX says upside is capped short term, but downside is protected at 320.
As long as AMAT holds above 320, the path of least resistance is still higher. 331–332 is the key level that decides if we break higher… or pull back first.
Disclaimer This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.