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

To: Gottfried who wrote (15126)1/28/1998 9:21:00 PM
From: jason D.  Respond to of 70976
 
After a big fall any premature test of the 50MA will inevitably result in failure. Until downward momentum (as indicated by the slope of the MA)diminishes, breakouts fail and are considered "false" even though they never really had a chance.

This is no longer the case with AMAT, the trendline has been broken in addition to the 50MA. Looks like the real thing to me, fellas! I expect big gains tomorrow on nice volume. Then Friday it will peak at 35 3/4 intraday and close at 34 3/8 portending consolidation.

Keep in mind this is just my opinion. There is likely no more than a 90% chance of it happening.

Happy Investing!

Jason



To: Gottfried who wrote (15126)1/28/1998 9:22:00 PM
From: stockycd  Read Replies (4) | Respond to of 70976
 
The upper resistance is slightly above 33. We never got to 33.
Tomorrow will be the test. Even if 33 is broken, I will be very
surprised to see a trend until after earnings. AMAT is in the low/
middle region of a short term trading cycle (trending up). I
predict 35 but no more prior to earnings and only to 35 if the
general market is up.


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