Applied Materials (AMAT)

[thetechtrader]

Applied Materials (AMAT) was the beneficiary of a Barclay's upgrade this morning and an upwardly revised target price to 17 from 12, which is having a positive impact on the stock price. An upgrade to an already powerful chart picture and technical set-up aligns the fundamentals and the technicals, in this case both bullish. AMAT is heading next for a confrontation with its 2010 resistance line, now at 13.78, which if hurdled should trigger upside continuation to test 14.00/10.

http://www.mptrader.com/middayminute/12/2010/17/