Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AMAT stock price is above the 200-day EMA.</a> </li> 
 <li> <span>2</span> <a>Buyers look strong and are expected to surpass the 20-day EMA hurdle.</a> </li> 
</ul> 
<p>Applied Materials Inc. (NASDAQ: AMAT) stock price is in an uptrend, forming the rising wedge pattern on the charts. Moreover, the price action shows the buying interest and has persisted in making higher highs for the past sessions. Furthermore, the chart shows long build-ups indicating the bulls’ strength and willingness to reach the $150 mark. Moreover, AMAT stock is in the bull territory and is looking to fill the pending gap near $150. AMAT stock could rebound from the lows of $100 and showed accumulation in the past sessions.&nbsp;</p> 
<p>AMAT stock options chain shows that massive call writing of 1.38 hundred thousand shares was placed at the strike price of $138, acting as a barrier, whereas at the strike price of $133, put writing of 1.11 hundred thousand shares was noted, replicating support zone there. Amid the push witnessed in the past sessions, AMAT stock is still in the buying region and will attain strength above the $140 level, and bulls need to surpass the range to trap the bears.</p> 
<p>At press time, AMAT stock price is $138.22 with an intraday gain of 2.34%, showing a pullback. Moreover, the trading volume increased by 0.45% to 5.900 Million, and the market cap is $115.626 Billion. Furthermore, analysts maintained a buy rating with a yearly target price of $159.42, suggesting a strong growth outlook for the following sessions.</p> 
<p>Applied Materials, Inc. provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display &amp; Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for etching, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-amat-stock-surpass-150-strong"><strong>Will AMAT Stock Surpass $150?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/qWi03JWX5iZTjy2LGeUzIEMk-MuW22gmpWNBIc1kdGI077p41ji1no2TDaNPPFgw3o2-dSRj3QMn-gLp7_6nXDTzS6VKPjy7wFEv-v3nthJ0VcO9jYuA9gndOo5lu2eWFbhrwomiYowVgPwaFSh8pOo" alt="AMAT Stock Witnesses Buying Interest, Will It Reach $150?"> 
  <figcaption class="wp-element-caption">
    Source: AMAT Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, AMAT stock price is in an uptrend, but broke the higher highs and shifted to lower highs pattern, landing bulls in trouble. Besides the uptrend, sellers have gained momentum and are looking to break the trendline near the 200-day EMA below $130. However, <a href="https://www.thecoinrepublic.com/2023/06/24/applied-materials-amat-stock-is-close-to150-will-it-make-it/" rel="noopener noreferrer nofollow">AMAT share price</a> is trading above the 50% Fib zone, and if it slips below it, it would take support on the 38.2% zone near $130.&nbsp;</p> 
<p>The RSI curve is in the oversold region and showed a pullback to retain neutrality, forming a bullish divergence, which suggests that follow-on buying is imminent and that the stock will reach the $150 mark.</p> 
<p>The MACD shows a bearish crossover and red bars on the histogram, suggesting that volatility may continue in the upcoming sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p>AMAT stock price was in an uptrend and has attained momentum over the past number of sessions. Moreover, the price action shows that buyers are looking to surpass the 20-day EMA to reach the $150 mark. Furthermore, the chart structure suggests bullishness and indicates that AMAT stock might attain a significant upswing in the upcoming sessions.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $135 and $130</p> 
<p>Resistance Levels: $140 and $150</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

AMAT Stock Witnesses Buying Interest, Will It Reach $150?

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 29, 2023

TerraUSD Founder Do Kwon Opposing SEC’s Extradition Plea: Report

Bulls Drive Ethereum’s Price Above $1650 as Market Rebounds

Nigeria’s mDoc and PharmaRun among 5 African startups selected for Google AI for Health Program

Rich Dad Poor Dad Author Warns of Fed CBDC, Asks to Take Measures

Crypto Analyst Predicts XRP Price to Skyrocket by 7,918% to $39

Introducing FightOut: A Revolutionary P2E Project That Gamifies the Fitness Lifestyle

Join our free newsletter for daily crypto updates!