Let's take a quick look at AMAT stock. We will look into this. Here you can see these negative images where it drops below that level. This indicates a decline here through February in Applied Materials.
You can see this course here where there was almost no rise. What happens is that when the negative momentum is very strong on the weekly chart. Sometimes you will see a cycle that becomes almost invisible due to a lot of downward pressure, and that is what is happening now.
Again , these are our own indicators , such as the Slim Ribbon PO and the Level 4 Options Trend Indicator. So you might want to take a look at our Level 4 subscriptions . So you have negative momentum here at Applied Materials.
This suggests to me that the decline here could continue until sometime in November, which is consistent with what I see in the stock market, and then there will be an attempt at a rebound and likely more selling.
So, Applied Materials' stock is extremely negative when you look at it. And again, as you know, this means to me that if you want to buy semiconductor stocks, this is not the right time.