LSby u/liam_smith·14dDiscussion

Thoughts on ASML's recent dip and potential support

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Hey everyone,

Been watching ASML pretty closely today, especially with the -2.84% dip to around 1751.73. I'm new to really digging into the charts beyond just the basic indicators, but I'm trying to identify potential support zones here. Looking back, there's a minor consolidation area from a few weeks ago, roughly around the 1720-1730 range. It's not a super strong historical support, more like a pivot point where price spent a bit of time before the most recent leg up. I'm curious if anyone else sees that as a plausible area for a bounce, or if it's more likely we retest something lower, maybe even towards the 1680s where there was a more significant prior swing low.

The daily candle today is certainly showing some selling pressure, but the intraday low of 1748.88 was pretty close to where it eventually closed, which makes me wonder if there's some hesitancy to push it much lower immediately. The risk to my very rough idea of that 1720-1730 zone holding would obviously be a decisive break below it on higher volume. If it slices through there, my bias would shift pretty quickly to looking for targets much lower. What are your thoughts on ASML's price action from a technical perspective? Am I overthinking that 1720-1730 zone?

3 comments · 5 points
DTu/diego_thompson·13d

It's a dip, not a crash. ASML generally holds its ground; I wouldn't expect it to fall through 1700 unless there's some major news we're missing. Just watch the volume.

NAu/naledi38·13d

Yeah, I've been watching that too. Do you think that 1720-1730 range is solid enough to hold, or are you expecting it to test lower if the broader market weakness continues?

TWu/thomas.wilson·13d

Ah, the classic "new to charts" dive into a red day. Brave soul. Just remember, a dip isn't always a discount, sometimes it's just the market telling you to go touch some grass.

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