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Politics : Formerly About Applied Materials

AMAT 249.89

+3.1%

Nov 26 3:59 PM EST

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To: Gottfried who wrote (31690)	7/30/1999 12:28:00 PM
From: Paul V.	Read Replies (1) of 70976

Gottfried, Just looked at the Dw AMAT (cheap seat) chart. IMO, the Bear resistance line is at $76 with a double top to be attained at $75. Breaking both would be positive. The Bull support line is at $69 equal to the double bottom. Using the DW horizontal method of calculation (number of constant x and o columns beginning the last of June and including another up x column) AMAT will have 11 columns. The eleven columns X 3 equals $33. Added to the shakeout low of $69 and you get $102. Using the DW vertical method we were up $6 from the $69 shakeout. Six X 3 equals $18. Added to the shakeout low of $69 and you get $85. Then, the DW statistical method which DW has posted on the AMAT chart would have a high of $88 from the current mean of $88. My conclusion from looking at the DW Relative Strength which is still in a column of "X" and the IBD RS at 92 plus a DW projection range from $85-$102 is that the trend looks good. The only fly in the ointment is the market and sector downturn. The DW side triangle can go either way at present. However, with earning coming out on the Aug. 17 I expect AMAT to go to the positive. A lot of weight is placed on the FED meeting the last of August. When does the Fed meet in August? Just my opinions. Paul

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