JimMakos
Long

AMAT Long - Betting on the Reversal

NASDAQ:AMAT   APPLIED MATERIALS INC
98 0 3
Although the support level is shown on the weekly chart, also notice the MACD divergence on the daily chart .

Using a soft stop loss of $0.50 and a hard one of $1, I'm looking to make $2.50 per share for a 5:1 reward-to-risk ratio. Not being greedy, the profit target is even lower than $20, although climbing above that isn't unlikely, should the reversal occurs.

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