Dizkover#StockIdeas: #AMAT breakout could be headed to $52
Updated September 18, 2017 ● 551 views
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Last week, we predicted AMAT will hit 47.5 and it did.
AMAT today reached a new 52 week high at $48.38. This breakout means a new target according to Fibonacci retracement. The technicals shows that it could hit $52 in the next few weeks. So get on board now.
Disclosure: Bought AMAT at $45.8.
RBC raises AMAT rating...
Shares of Applied Materials Inc. AMAT, +0.06% rallied 1.4% in premarket trade Monday, after the chip equipment company was upgraded at RBC Capital, which was upbeat about the company's wafer front end (WFE) business. Analyst Amit Daryanani raised the rating to outperform from sector perform and boosted the price target to $55 from $48.
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