Semi Bearish? AMAT Daily Chart

You know that when I write a title like that or highlight a potential baby (read: short-term implications only) H&S on AMAT the words are not written by a hopeful perma bear.  Not with this spot on the internet beating 99% of everywhere else to a bullish view on the Semis (last spring).  But the chart is what it is and it is not very pretty.  It’ll start getting ugly if AMAT loses its 50 day moving averages.

amat daily chart

This is an excellent company in an industry (Semi Equipment) that has been indicated to be in ramp up mode.  But there is the issue of every Tom, Dick and Harry Momo infesting the sector, just as they did the gold stock sector (and look what happened there).

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