Will AMAT break the terminal pattern extending from March?

AMAT is in a coiling pattern that extends from March 2021 and may be looking to break out now.

Fundamentally:
* AMATs sales growth quarter-over-quarter has been more than 30%
* Its EPS is expected to grow over the coming year

Technically:
* AMAT is in a pennant pattern indicated by the white trend lines
* Recently broke back above a resistance of $135.34 which should now serve as support
* Is approaching a confluence of resistance at $142.12

Trade idea:
* AMAT is approaching a confluence of resistance around the $142.10 area
* Expect selling pressure around there
* Expect the $135.30 area to serve as support
* Look for buying opportunities around the $135.30 area

OR

* Wait for a daily break and close above $142 as a confirmation

Notes:
* A break and close below $135 would make $130 the next support level and a break below that could send the price to the bottom of the pattern
* A break above $142 can be expected in the coming week
* However, this may continue coiling using 135.34 as support and the white trend line as resistance until earnings

Yorum:

This is going accordingly.
It's continuing to coil using 135.34 as support and the white trend line as resistance.

Will it do this until earnings? Lets see

Yorum:

AMAT broke out and is now testing the wedge resistance and the $142 area as support.

Good time to buy!