Big Day for Applied Materials

The big merger news has sparked a powerful breakout in shares of Applied Materials (AMAT). The stock is up 8% on what will likely be its heaviest upside day in many years. At nearly 70 million shares already today, volume is running at over 7x the 50-day average. This huge breakout began with an upside gap the lifted the stock past its 52 week high as well as the 2011 peak. AMAT is now trading at its best level since September 2008 and is set up well for more gains in the near term.

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