2 Answers: Is AMAT good stock to Buy?
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I am looking at buying AMAT stock. A good stock pick?
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Buying AMAT ( Applied Materials) will be a pure short term play CMP 35.4. I don’t see it going beyond 40. I see more of it as a downward hill from there. Exercise caution.
No, stay away from going long, vicious selloff coming according to Elliott wave.
Elliott wave analysis has been a pivotal tool for forecasting the direction of the stock market. Ew has predicted the dot-com bubble and the 2008 recession with near precision. The reason for its accuracy, ew is very accurate with a reading of the mass like the equity indices, commodity indices, bond prices, etc (does not work well with individual stocks), it works well because of the repetitive tendency of human behavior from optimism to pessimism. It results in repetitive patterns that you can recognize to predict the next move. (motive waves 12345 and corrective waves abc)
Ew is highly underrated because many traders and investors do not understand it and do not know how to apply counts (unless extensively learning and getting trained on how to apply counts). But if you have the ability to count the waves properly, the trading success can be immense. Currently, Ew is predicting another massive selloff as the stock market has completed the end of the super cycle 5th degree.
I don’t usually refer other people’s work, but there is a trader on Twitter who has the best counts, he goes by the name wavecounter, in my opinion, he has the best ew analysis and the best thing about it is, its free.