Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 268.87

+4.6%

Jan 2 9:30 AM EST

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To: Gottfried who wrote (61280)	3/3/2002 7:00:23 PM
From: StanX Long	Read Replies (1) of 70976

From the same report. stockcharts.com Arthur Hill's TDTrader A tale of two semis Although they are in different business segments, Intel (manufacturing) and Applied Materials (equipment) are core components of the semiconductor industry. INTC makes up 21.44% of the Semiconductor HOLDRS and AMAT weighs in at 13.77%. Even so, these two stocks are on divergent paths - for the moment at least. INTC has clearly broken a key support level and turned bearish, but AMAT remains well above its January low and is pushing against resistance. In contrast to the Nasdaq, INTC moved above its spring/summer highs with a sharp advance above 35. A head-and-shoulders reversal formed over the last few months and the stock broke neckline support with an opening gap down on 21-Feb. The projected decline is only about 5 points, but the implications of the break should be considered bearish until proven otherwise. A move above 34 would call for a re-evaluation of this assessment. AMAT moved above the Apr-00 trendline with a sharp advance to the upper forties. However, the stock has yet to convincingly exceed its summer resistance level at 48. This level marked support in May, turned into resistance in July/Aug and is giving the stock trouble once again. Technically, the stock remains in bull mode and has yet to break down. We must keep in mind that the previous trend was up (Sep-Nov) and the current trend is neutral (Dec-Feb). As a consolidation (~12 weeks), a breakout at 48 would mark a resumption of the prior advance. As long as the stock holds KEY support at 42, the bull reigns supreme. For more of Arthur's intuitive commentary, check out his website: TDTrader.com Take your TA to the next level!

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