AMAT update

Earlier today I showed you what appears to be a pretty clear set up in AMAT and reminded you to keep this on your watchlist.

 AMAT daily chart...

 Intraday range is broken...

I mentioned a weak positive divergence and that I wasn't sure what the tactical endgame set up was, but that divergence turned tail exactly at 12:05 as the Dow broke 13k and then failed. Right now the short term chart is confirming the downside. As per the earlier posts, the long term charts from 15-60 mins are all negative.

Risk management wise, this is somewhat of a difficult area to take this trade, the daily swing trade template shows roughly the $12.50 area being an important break.

On an intraday swing basis with a 15 min chart, it's a bit easier to stomach.

$12.85 would be the stop on an intraday basis, which may be an easier way to enter the trade to give it a shot. If you have StockFinder I can email you this format, but a 22 bar 15 min moving average is a rough proxy for the trend channel and volatility indicator stops.