DailyPlay for Friday June 5th, 2015 – Applied Materials, Inc. (AMAT)

The bearish DailyPlay we chose for Friday June 5th is Applied Materials, Inc. (AMAT). UNH is part of the Technology Sector (XLK). XLK has been moving lower over the past week as it tests its $43.08 support level. XLK’s 1-month trend has turned neutral.

Applied Materials, Inc. has been in a strong bearish trend since the end of March and recently took a nice bounce lower off of its $20.63 resistance level. With a technical score of 2 (out of 10), AMAT is showing negative momentum as it looks positioned to continue lower towards its $18.63 support level.

View this trade idea on $AMAT