TODAY'S BUY RECOMMENDATION - February 09, 1999APPLIED MATERIALS INC
(AMAT-Nasdaq)
APPLIED MATERIALS INC (AMAT-Nasdaq): Technical Viewpoint: From a low of
$41 1/2 on Dec 30, 1998 prices rallied, reaching a high of $57 5/8 on
Jan 8, 1998. A decline saw prices pull back, reaching a low of $49 1/4
on Jan 13, 1998. Another rally saw prices penetrate resistance line "A",
closing yesterday at $67.44. Technicals: Momentum Index (MTM): A Buy
Alert! was given on Feb 8, 1999 when the solid line crossed the dotted
line to the upside. Support: Remains at $57.00. Resistance: Is at $69
3/4. Point & Figure: Reversed to the upside on Feb 8 , 1999. A P&F
downside reversal takes place at $63.00 Summary: Technical indicators
have turned bullish.
This stock pick is brought to you by
BUY! APPLIED MATERIALS (AMAT-Nasdaq): @ $67 3/4 Stop: Use a protective
stop of $64 7/8. Applied materials Inc is currently trading @ $67.44
plus $6 3/4 on Feb 8, 1999. Price Objective: $94.00 Risk/Reward: $2 7/8
VS. $26 1/4. Today's Risk Reward Ratio: 9:1
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If in the following days the prices of the stock reaches the BUY STOP or
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made then use the recommended protective stop as indicated in the
report(*) Should the stock advance move you protective stock up
accordingly.
* Example : XYZ Corp closed at 64 the previous day
a) A buy stop recommendation of 643/4 is made with a protective stop of
613/4 (A difference of 3 points)
b) Now should the stock advance to 693/4 than the protective stop would
b 663/4
c) Keep advancing the stop as the stock moves up until the stop is
penetrated and you exit the position.
d) Never use a stop in excess of 37/8
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