Applied Materials Navigates A Bearish Trend With Bullish Hopes Ahead Of Q3 Earnings
Portfolio Pulse from Surbhi Jain
Applied Materials Inc (NASDAQ:AMAT) is experiencing a mixed technical picture ahead of its Q3 earnings release. The stock is currently trading below its five, 20, and 50-day exponential moving averages, indicating a bearish trend. However, it shows some buying pressure and is trading above its eight-day, 20-day, and 200-day simple moving averages, suggesting potential for future bullish movement. Analysts have a consensus 'Buy' rating with a price target of $218.26, and recent ratings suggest a 35.24% upside with an average price target of $268.33. Wall Street expects $2.02 in earnings per share and $6.7 billion in revenues for the third quarter.
August 14, 2024 | 3:56 pm
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Applied Materials Inc (NASDAQ:AMAT) is showing a mixed technical picture ahead of its Q3 earnings. The stock is below its five, 20, and 50-day exponential moving averages, indicating a bearish trend. However, it shows buying pressure and is trading above its eight-day, 20-day, and 200-day simple moving averages, suggesting potential for future bullish movement. Analysts have a consensus 'Buy' rating with a price target of $218.26, and recent ratings suggest a 35.24% upside with an average price target of $268.33. Wall Street expects $2.02 in earnings per share and $6.7 billion in revenues for the third quarter.
The stock is currently showing a bearish trend based on its position below several key exponential moving averages. However, the presence of buying pressure and its position above certain simple moving averages suggest potential for bullish movement. Analysts' positive ratings and high price targets further support a potential upside.
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