Signals to Buy Applied Material

Over the past couple of weeks, the Nasdaq has been maybe the brightest spot of the U.S. markets. So why not go to the hotspot?

Lets look at the chart Applied Material (AMAT).

The stock has just broken through so many resistance all at once and with good volume. It tore passed the 50 day moving average and 200 day moving average.

I like the price target of $20.40 and there really doesn’t look like there is any resistance in the way. Almost looks too good to be true.

The company also just reported a positive outlook, so that only adds to the pie. The CEO also feels that they have reached a bottom; however, who knows how much they can be trusted.

I would buy shares now, with a protective stop at $18.50.

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