NEW BULLISH Plays
Applied Materials - AMAT - close: 20.62 change: +0.20
Stop Loss: 19.75
Target(s): to be determined
Current Gain/Loss: unopened
Entry on April -- at $--.--
Listed on April 01, 2014
Time Frame: exit PRIOR to earnings on May 15th
Average Daily Volume = 14.8 million
New Positions: Yes, see below
Why We Like It:
AMAT is in the technology sector. The company makes equipment and software for the semiconductor, flat-panel display, and solar photovoltaic (PV) industries.
The stock has been showing relative strength outperforming the market both last year and this year. Traders bought the dip at its 10-dma and now AMAT is poised to hit new multi-year highs.
The March 21st intraday high was $20.81. I am suggesting a trigger to open bullish positions at $20.85. Plan on exiting positions prior to earnings on May 15th.
Trigger @ $20.85
Suggested Position: buy AMAT stock @ (trigger)