Thoughts on ASML and the 1770 level
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Been watching $ASML with some interest lately. It's been a monster, no doubt. We saw it poke its head above 1770 earlier today, hitting around 1771 before backing off slightly. It feels like this 1770 level is trying to establish itself as the new immediate resistance after a pretty sharp move up. My current read is that if we get a convincing close above, say, 1775-1780, it could signal another leg up, perhaps targeting the 1800-1810 zone without much resistance in between. However, the flip side is that if it struggles to hold above 1770 and we start seeing closes back towards 1750, it suggests that this push was more of an exhaustion gap than a breakout. The risk to the bullish thesis here, for me, is a failure to hold momentum above 1770, especially if we get a quick retest and rejection. Could easily see a retrace towards 1740s in that scenario. Just my two cents, markets can always humble you.
