Update July 2, 2019
What we do know is that Cycle wave 1/A and 2/B (you never know before hand if a move will be consisting of five -numbers- or three -letters- waves so one has to label them as both until one or the other is proven), and either Cycle-C/3 is subdividing and still underway or already topped. Since even C waves are more often than not made up off five waves, I will give AMAT the benefit of the doubt in that most likely (blue) primary V of Cycle-3/C is now underway to new ATHs. A break below the december low is needed to tell otherwise.
So while there’s some uncertainty about the next larger move, with a bias towards higher, the daily chart shows price is above its rising 20 to 200d SMA, with 20>50>200. Hence, a Bullish setup and thus confirming my bias for higher prices and not lower (longer term: months+). To narrow things down a bit more than from the quarterly chart above: a break and close below the 200d SMA is (often) a first sign of worse things to come, while a loss of $37 targets the low 30s.