BBTrader29

AMAT Breakdown 6+taps

Short
NASDAQ:AMAT   Applied Materials, Inc
AMAT has now touched its supporting trend line over 6times, the support today has been cracked, leading me to believe there is now downside pressure for a breakdown. Its price is also now under all the moving averages and has had increased sell side volume over the past several days. That paired with the SPY and SMH (semiconducter index) showing bearishness on all the daily, weekly, monthly timeframes... this has room to fall.

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