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Chartimistic

AMAT - Materializing A Breakout

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Applied Materials, Inc. (NASDAQ:AMAT)  
Chartimistic Actualizado   
NASDAQ:AMAT   Applied Materials, Inc.
Triangle Support and Resistance Trend Lines AMAT Ascending Triangle Bullish Patterns breakout
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triangle supportandresistance trendline amat ascendingtriangle bullish breakout
AMAT is a rather standard chart. An Ascending Triangle pattern has formed since the Christmas Eve low with only a couple of instances where the rising support line was broken. Each time the line was broken it was by a small amount & each time the line was regained shortly after. A multiple top pattern dating from late July led to the resistance line across the top of the chart. The breakout happened on October 24th. I am just waiting for the eventual pullback re-test to see if resistance has now become support.
Comentarios:
Stock re-tested on Halloween & has continued rising. It is near overbought but got to let them run.
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