Could Applied Materials (AMAT Stock) move towards $110?

AAATrade Team AAATrade

Applied Materials Inc.‘s stock traded on the Nasdaq exchange under the ticker AMAT today's instrument.

When we look at the AMAT ‘s chart, we see its climb from the $112 range on the 14th of May to the $117 on the 19th of May where it struggled to consolidate, leading to the retraction back to the $108 on the 20th of May. Since then, it made another attempt to reclaim the $112 range but was unable to climb further it fell into the $102 range. It was last found trading at the $106.49 range having the closest support level at the $102.

Today we can expect a move towards and below the $102 support level, possibly near $100 If, however,

it manages to hold on to the current level than a move towards the $110 can be expected.

Author

AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

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