APPLIED MATERIALS INC. - AMAT
Monthly chart remains bearish with price well below all key moving averages on this timeframe. No buy signal/pattern evident on this chart.
Weekly chart shows test of the November 2008 bottom. IF the support holds, THEN look for a buy signal/pattern to be set up.
Daily chart shows the market tested the November 2008 low, with short term support found on Friday's session at the .886 fib area. Current pattern evident is the bullish gartley butterfly. IF there is follow through to the upside next week, THEN look for initial upside targets to be $10.37, $10.95 and even $11.31. The price action thus far suggests the market is tracing out a consolidation/trading range pattern before the next big move.
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