Will AMAT bounce after the conference next week.
There are always contradictions galore between one analyst and another. Between what the stock is doing and what the Analysts say it will do. That's why we have a saying "trade what you see" AMAT has a Strong buy rating but the same guy who gave it this status just lowered the price target on this stock. He's looking at the downward channel AMAT is in coupled with White House bumbleing and is just trying to cover his own corporate ass. "I told you I was less bullish on this one." Well no you have not told us that if you continue with your strong buy rating. Let's see if Thursday and Friday of this week have him move his rating back a notch to BUY if AMAT doesn't break out of this channel.
The market could get a bit of a tailwind with some earnings calls next week but last Earnings Season taught us to lower our expectation for that alone to pivot the entire Shabang and return us to a Bull market. In the Semi Conductor sector there are some great articles out there but it's all speculation. Micron needs to go on a run and show leadership in Semis if AMAT is going to remount it's 9 EMA. That would get many buyers paying attention. Until it can remount it's 9 ema it's just another dropping ticker Strong buy or not. Set your alerts and keep an eye. Semis can run. But it's got a ton of over head resistance where as Micron MU is today dropping below it's 9 ema and 50 MA. One good day and MU remounts and can run. I'm not expecting or seeing this happening. I think there's more pullback in MU before it move's to all time highs again but I think it's a Trade War and Market Cycle issue. MU is still a strong company. My alerts on AMD MU INTC NVDA will all be checked regularly.
The market could get a bit of a tailwind with some earnings calls next week but last Earnings Season taught us to lower our expectation for that alone to pivot the entire Shabang and return us to a Bull market. In the Semi Conductor sector there are some great articles out there but it's all speculation. Micron needs to go on a run and show leadership in Semis if AMAT is going to remount it's 9 EMA. That would get many buyers paying attention. Until it can remount it's 9 ema it's just another dropping ticker Strong buy or not. Set your alerts and keep an eye. Semis can run. But it's got a ton of over head resistance where as Micron MU is today dropping below it's 9 ema and 50 MA. One good day and MU remounts and can run. I'm not expecting or seeing this happening. I think there's more pullback in MU before it move's to all time highs again but I think it's a Trade War and Market Cycle issue. MU is still a strong company. My alerts on AMD MU INTC NVDA will all be checked regularly.
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