Technician
Short

Applied Materials: Another Bearish Topping Formation

NASDAQ:AMAT   APPLIED MATERIALS INC
702 2 15
-The Share have completed a weekly double top pattern by closing below 19.85.
-RSI momentum bearish breakaout
-Main Rising trend line was taken
-Price is challenging the long term 52-week SMA , where a continuation below it would increase the bearish chances.
-First target at 18.30, second target at 16.70.

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thanks for this analysis I really liked this analysis
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One of the best set ups in terms of high probability I've seen in ages.
+3 Reply
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