AMAT breaks below 100-day moving average


Applied Materials Inc (AMAT) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
AMAT breaks below 100-day moving average
AMAT fails to close above 50-day moving average
AMAT breaks below previous session low
AMAT falls to lowest close since May 8th
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

AMAT ended Thursday at 53.96 losing $1.21 (-2.19%) on high volume. Today's closing price of 53.96 marks the lowest close since May 8th. Closing below Wednesday's low at 54.46, Applied Materials confirms its breakout through the prior session's low having traded $1.00 below it intraday.

Daily chart for AMAT
Volatility

Thursday's trading range was $1.52 (2.78%), that's slightly above last trading month's daily average range of $1.43. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

After spiking up to 54.98 during the day, the stock found resistance at the 50-day moving average at 54.91.

Trend

The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The share broke below the 100-day moving average at 54.61 today for the first time since May 15th.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 55.46 where further buy stops might get activated.

Conclusion

While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Applied Materials Inc
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 20 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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