After a surge on Tuesday, Applied Materials (AMAT) stalled on Wednesday to firm an inside day and harami. This pattern extended on Thursday as the stock again traded within Tuesday's range. A consolidation within an 5-week uptrend is forming. Watch the boundaries for the next signal.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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