Technician
Long

Applied Materials Technical Analysis: Another Bullish Breakout

NASDAQ:AMAT   APPLIED MATERIALS INC
569 4 10
Technical Analysis:
The stock remains in a long term bullish breakout mode, after breaking 17.40 key resistance level (check the link below for the long term breakout).

-The price completed a bullish breakout above the 50-days SMA
-The price completed a triple bottom by breaking 19.50 neckline of the pattern
-High Volume levels on breakout
-The price could be heading to resume the bullish trend after the recent pullback towards the key swing low/support level around 18.50.
-First target at the latest swing high at 21.35, followed by my long term target at 23.00 areas(see link below)
-A break back below 18.50 could invalidate this setup

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Nice call!
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thx
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i think the best place to enter a position with retesting 19.60
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Yep, on a retest to the broken neckline.
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