Applied Materials Inc AMAT, is set to release its first-quarter earnings on Feb. 15 after market hours.
Wall Street is anticipating $1.91 in EPS and $6.48 billion in revenues.
The technical analysis setup of Applied Materials indicates a resolutely bullish trend, supported by the share price consistently above its 5, 20, and 50-day exponential moving averages.
Applied Materials is also seeing slight buying pressure, contributing to a positive market sentiment.
The company, renowned for its engineering solutions used in producing new semiconductor chips, plays a critical role in the manufacturing processes of various electronic devices.
Its eight-day simple moving average (SMA) stands at $175.56; the 20-day SMA at $170.06; and the 50-day SMA at $161.02—all below the current stock price of ~$180-$182, reinforcing buy signals.
The 200-day SMA is at $144.55, further supporting the overall buy sentiment.
Additionally, the eight, 20, and 50-day exponential moving averages are all indicating a bullish trend. The Moving Average Convergence Divergence (MACD) indicator is 5.92, affirming the buy signal.
Furthermore, both the Bollinger Bands (25) and Bollinger Bands (100) indicators, with ranges of ($156.40 – $176.32) and ($138.26 – $164.22) respectively, support the overall buy outlook for Applied Materials.
Overall, technical indicators point to a robust bullish trend for Applied Materials stock.
Also Read: Applied Mat Earnings Preview
Applied Materials Analyst Consensus Ratings
Ratings & Consensus Estimates: Consensus analyst ratings on Applied Materials stock currently stand at a Buy with a price target of $144.16.
Price Action: Applied Materials stock was trading at $180.31 at the end of market day on Feb. 13.
Read Next: Critical Insights From Applied Mat Analyst Ratings: What You Need To Know
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