$AMAT Forming a Possible Cup with Handle Pattern?Applied Materials, Inc.NASDAQ:AMATBrent_CalverAI Chip-Production Opportunity Applied Materials operates in the critical AI chip-production market alongside TSM, ASML, and $LRCX. These companies appear well positioned for potential growth over the coming months and years. From a technical perspective, AMAT’s chart setup looks particularly compelling. Potential Cup-with-Handle Setup AMAT is already forming a cup pattern and could break upward before developing a handle. However, a handle still appears possible: the stock has risen about 33% from the bottom of the cup to the resistance area shown on the chart. After such a strong run, a pullback would be typical and could reflect profit-taking that forms the handle. Entry and Risk Plan I have set an alert for the upper descending trendline once it forms. The alert would also trigger if no handle develops and the stock continues higher. If triggered, I will consider opening a position and placing a stop below the most recently formed low. Final Reminder As always, if this idea resonates with you, make it your own and follow your trading or investing rules. After all, it is your money at risk.