ASML's Short-Term Pullback vs. Long-Term Trajectory
I'm looking at $ASML's current price action around 1844.08 after yesterday's slight dip. The intra-day range from 1820.41 to 1853.315 suggests some consolidation, which isn't unexpected given the run it's had. My read is we're likely to see a continued re-test of the 1820-1800 zone in the coming sessions, possibly even flirting with 1780. I'd put the odds of seeing ASML dip below 1800 by month-end at around 65-70%. The primary reasoning here isn't a fundamental shift in its long-term prospects, which remain exceptionally strong tied to the AI compute build-out, but more of a technical breather. After such significant upward momentum, some profit-taking and a search for stronger support levels is natural. This isn't a call for a deep correction, rather a healthy, albeit temporary, pullback before its next leg up, especially with future-looking AI demand forecasts remaining robust. The longer-term picture for lithography demand still points north.