One more long position for today, and this will likely do it for me in terms of new positions. But the double bottom in Applied Materials (AMAT), coupled with a clean breakout opportunity, sucked me right into this trade here. The technology sector continues to perform well, and that is another “plus” going in this stock’s favor. My ideal profit target is around $17.00/share – if it hits that level, I’ll likely be taking profits, and at the very least, half the position off the table.
Here’s the AMAT chart.
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