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A Bullish Trade In One Of The Hottest Industries In The Market You Don’t Want To Miss

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Of all the stocks on the move this week, one stock in particular made what we saw as a very meaningful move to the upside. Applied Materials (AMAT) is the stock in focus today for the bullish move to the upside made to start this week.

The area to watch was and still is 120 to 121, which provided little resistance to the price of the stock as it surged through this area with strong momentum. The play here is going to be a bullish one with a special focus on entry. Remember, just because a stock breaks through a level doesn’t automatically mean we chase the stock, that is how we get burned.

What would open the door to the best entry would likely be a pullback and retest of 120-121 to validate the move higher. If price was to pullback to this area and hold it, then one could look to enter calls with a stop set just below this area. We are looking to find the highest probability trade, not a guarantee, so there must always be a plan to manage our risk and not let a losing trade run into a loss that is too big.

Our job is not only to make money, but to keep it. Remember this for every trade you put on and it will help you keep your losses small in proportion to your wins.

Learn to find these levels for yourself when you join The Profit Machine. There, you’ll learn all about my favorite stocks, setups, strategies, and plenty more. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

Get a jump start on your options education and put yourself in position to win in 2023. Sign up today! Until then…

Good Luck With Your Trading!

Christian Tharp, CMT

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Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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