Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 259.08

-4.1%

3:59 PM EST

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To: Quaddad who wrote (13987)	12/31/1997 5:01:00 PM
From: Trader X	Read Replies (1) of 70976

Quaddad, I did a different amat chart a couple weeks ago that may help show the support at $22 a little better. cris.com but firstly, I want to make it clear that the stock is not going to go to $22 simply on TA. Most likely, the overall tech market will become weak again, most certainly on reduced earnings warnings, since earnings are coming up again soon. Bad news does nothing to overwhelm TA, but rather the price finds support at levels that had previously been resistence, and usually fall and rise within defined trend channels...thus price moves either up or down can be predicted by the range of the historic trend channels. If the stock coninues down, as I expect it to, then it should find support in the 20-22 area both based on previous price resistence and the current trend channels. Hope that helps you. -Kevin

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