Hello Traders and welcome to AAATrade’s Intraday Technical Analysis session.

Today’s instrument is the Applied Materials Inc.‘s stock traded in Nasdaq exchange under the ticker AMAT. 

Looking at the AMAT‘s chart, we see that this week, it was in a clear uptrend, supported by the market’s positive expectation on the quarterly earnings which were announced last night. Due to that expectation, the stock closed at the price of around $129.95. Today we could expect a correction of the price towards the support level which is located at around $124, but the trend should remain positive with a possibility for a reaction towards the level of $130.

Thank you for reading AAATrade’s Intraday Technical Analysis. 

From all of us here, we wish you successful and responsible trading. 

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