jaxdog

$AMAT Rising Channel or Wedge?

NASDAQ:AMAT   APPLIED MATERIALS INC
I had drawn a rising wedge pattern a few weeks back. Then it broke higher than the wedge and pulled back in. I' asking for feedback from the community as to what we have now. Is it a wedge or channel. and if it's a channel, was that break above the wedge and pullback enough to change the picture?
Trade active: I forget to post, I went long on 1/2 @ $62 and have a stop at $60. My 1st target is only $64 so 1/1 risk/reward. However, I think this will continue to follow this nice channel for awhile.
Comment: 1/2 is Jan 2

Comments

I think you can see $65-70 in the next few months. Can't say after that, it will dip intermittently
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i always error on the side of a channel, because wedges are very subjective.
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jaxdog Mausty
@Mausty, thanks for the input... yesterday it did close back up over the wedge line...I'm going to look for a small consolidation and then go long...
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