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by Jayanthi Gopalakrishnan
Applied Materials, Inc. [AMAT] has started showing signs of strength. Is it a buy?
Position: N/A
Jayanthi Gopalakrishnan
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Applied Materials, Inc. (AMAT) - Poised For A Trend Reversal?
05/25/00 01:42:32 PMby Jayanthi Gopalakrishnan
Applied Materials, Inc. [AMAT] has started showing signs of strength. Is it a buy?
Position: N/A
| The chart of AMAT, with the 10-day moving average and a short-term trendline, indicates that the stock may be a strong buy candidate. As of May 25, 2000, the price has approached the 10-day moving average and looks like it may face resistance at that point. However, if prices break above this moving average the critical point would be the short-term trendline- the point of confirmation. |
| If prices break above the trendline with heavy volume I would implement the following trading strategy: Enter long position at $87.00 Exit long position at $91.00 Place a trailing stop loss 1/4 point below price. |
|
| Applied Materials, Inc. [AMAT] is beginning to show signs of a possible trend reversal. |
| Graphic provided by: CyBerCorp, Inc.. |
| |
| If, however, prices met resistance at this trendline and showed signs of reversing I would consider entering a short position. My trading strategy would be: Enter short position at $85.50 Exit short position at $82.50 Place a trailing stop-loss 1/4 point above price. |
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