Applied Materials Inc. (NASDAQ: AMAT), a provider of manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries, is up sharply in mid-day trading today, extending its gains for the week. AMAT has finished higher in each of the trading sessions this week.
In today’s trading, AMAT has gained 3.63% to $12.85 on volume of 24.09 million, which is more than two times the daily average volume of 11.32 million. The stock has gained more than 9% in the last three trading sessions. AMAT has broken through $12 resistance level as a result of the rally this week. This is a strong bullish signal. Technical indicators for the stock suggest that the rally could continue.
United Microelectronics Corp. (ADR) (NYSE: UMC), a manufacturer of semiconductor products, is gaining in mid-day trading today, reversing some of the losses from previous trading sessions. UMC is rebounding after falling in each of the four previous trading sessions. The stock slipped even as the company this week announced the introduction of thick plated copper process for monolithic PMIC applications. Last week, the company had said that its December sales fell 3.8%.
UMC is currently trading 2.60% higher at $1.97 on volume of 1.54 million, which is below the daily average volume of 2.57 million. The stock has fallen nearly 5% this week.
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