A month ago I flagged $AMAT as a great company at the wrong moment: record revenue, raised guidance, and a stock that still would not move. Here is the update, because price answered, not the headlines. $AMAT fell from its highs near 700 to 426.1 in early September, bounced, and is steadying in the mid-450s, closing Friday at 456.5. But it is still under its weekly pivot at 460.4. And the tell: on Friday, when all four indexes closed green, $AMAT closed red. Relative strength is on the floor, a true zero, and volume ran below average all week. So which list does it belong on? Not the long watch, not yet. This one sits on the short watch, the weakness side. What would flip it: a reclaim of 460.4, then 470.2, held on volume. Below 446.7 it reopens 436.9, and a loss of the 423.2 to 426.1 zone puts the downtrend back in motion. $AMAT the business is excellent. $AMAT the stock stays on the weakness list until the levels say otherwise. Not investment advice.🐝
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