currently weve got significant bullish momentum within the electronic technology stock sectors and as such APPLIED MATERIALS should continue to benefit from the current upside this sector is receiving. Current price action is on its way to 170-175 and most likely will break those ranges based on current buying momentum that it received within the low 160 range. Price is above the ichimoku cloud with a green bullish candle currently ending the week, and as we look to the left weve got consecutive buying volume as shown to the bottom left in green. The price is over the 30 day moving average and has cleared the 9 day moving average signalling further bullish sentiment, the macd and signal line are progressingly leading to the upside. The next price resistance would be around 168.16 which it failed to do so on jan 02 2024, even with the bullish flat pattern forming on the four hour as shown to the left starting around the low 140s.
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