Applied Materials: the major oscillators confirm the bearish trend

Applied Materials stock close slightly higher. The price is below the 14 days moving average (SMA value is 18.68), the short term view is therefore bearish.

Applied Materials stock close slightly higher. Trading session of the 05/01/2016 ends at 18.49 (+0.11%). Technical analysis applied to the daily chart shows a bearish trend, anyway for today trading session the forecast of price movements is between support and resistance levels. The major oscillators confirm the bearish trend.

APPLIED MATERIALS INC.

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Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 18.68). The short term view is therefore bearish, however for today trading session we can’t exclude retracements towards the most significant resistance levels.
Volumes
Daily chart shows volume is lower than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 05/01/2016.

Performance: 7 trading days= -3.24% – 15 trading days= +2.44% – 30 trading days= +1.71%

Resistance levels: R1= 18.64 – R2= 18.80 – R3= 19.13
Pivot Point: 18.47
Support levels: S1= 18.31 – S2= 18.14 – S3= 17.81


DAILY TRADING SIGNALS

Buying opportunity above 18.55, targets minor resistance at 18.79 and perhaps as far as strong resistance at 18.95, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 19.37.

Selling opportunity below 18.42, targets minor support at 18.18 and perhaps as far as strong support at 18.02, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 17.60.