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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (13981)	12/31/1997 2:26:00 PM
From: Trader X	Read Replies (1) \| Respond to of 70976

Explaining the AMAT chart above... good questions. First, the sell comes because $30-31 was critical support prior to the most recent breakdown. Second, when amat broke below $30, it gapped across $31. The action the past 2 weeks has been filling the gap. Now that it has filled the gap and hit resistence at 31, the price should fall to the next level of support (not resistence), which if you look at the 4 year chart quote.yahoo.com, is at $20-22, where support/resistence has already been establish. Kevin