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Applied Materials Inc (AMAT) “On a long-term technical basis, the stock (AMAT) is trading above its 200-day moving average which generally implies it is in a positive trend.
The stock has support at 65.33 and 61.97. If the stock breaks down through support at 65.33 then it will probably continue lower to 61.97. The stock will meet resistance at 69.94 and 73.50. If the stock breaks up through resistance at 69.94 then it will probably continue higher to 73.50. The 200-day moving average is at 57.47. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (81.51).”
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