Watch These Applied Materials Levels as Stock Drops on China Sales Slump
Key Takeaways
- Applied Materials shares fell in extended trading Thursday after the chip equipment manufacturer posted quarterly revenue below Wall Street expectations amid a slump in China sales.
- The stock recently nudged above the upper trendline of a descending channel but has failed to decisively close above the nearby 200-day moving average.
- Investors should watch key support levels on the Applied Materials chart around $158 and $145, while also monitoring overhead areas near $190 and $213.
Applied Materials (AMAT) shares fell in extended trading Thursday after the chip equipment manufacturer posted quarterly revenue below Wall Street expectations amid a slump in China sales.
Despite the fall in Chinese revenue, which accounted…
