APPLIED MATERIALS INC (AMAT.O) 

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the watchlist section of the weekly report. It is featuring Applied Materials Inc. listed on the Nasdaq Stock Exchange.

APPLIED MATERIALS INC (AMAT.O)

Applied Materials, Inc. provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 6 month-long ascending triangle with the horizontal boundary acting as strong resistance at 145.40 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 149.50 levels will confirm the breakout from the 6 month-long ascending triangle with the possible chart pattern price target of 175.00 levels. Breakout can push the stock to all-time highs.

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