Applied Materials Surges Off Q4 Beat

Applied Materials

shares are trading higher by $1.58 at $18.75 in Friday's session. The catalyst for the rally is a Q4 beat of a penny with slightly better sales. The issue has traded in a tight range ($18.23-$18.84) since its higher open. The current high of is just shy of its December 31 high ($18.96). If the rally continues, there may be additioanl resistance at the series of five highs from $19.19 to $19.41 from December 23-December 30.