Applied Materials ($AMAT) experienced a sharp decline Applied Materials, Inc.BATS:AMATForexClinikApplied Materials (AMAT) experienced a sharp decline of over 13% in the past 24 hours following an otherwise strong quarterly report. The market reaction was driven by a weaker-than-expected forecast, which triggered heightened selling pressure and contributed to a significant decline this week. From a technical standpoint, the $160 level is acting as a critical psychological and structural support zone, aligning with the 50% Fibonacci retracement level. While there remains potential for further downside, I have initiated a buy position. Should the price continue to decline, I plan to add to my holdings using a Dollar-Cost Averaging (DCA) strategy. As always, trade with caution. I welcome your thoughts in the comments — and don’t forget to like and share for more market insights.