AI sector stability: $ASML holding 1700 through May?
Considering the current run in AI-related tech, I've been eyeing $ASML's sustained strength. It's trading around 1763.76 today, having touched 1771 earlier. The question is whether this momentum, or at least a significant portion of it, can hold through month-end.
My take is there's about a 65-70% probability $ASML closes May above the 1700 level. We've seen some consolidation attempts around the 1740-1750 range, which suggests decent support. The demand for advanced lithography remains robust, a fundamental driver often overlooked in short-term noise. While a broader market dip could certainly pull it down, I think the underlying sector strength, coupled with its market dominance, provides a reasonable floor here. Any major chip or AI sector news could obviously shift this, but absent that, I see buyers stepping in on dips toward 1700.
1700 seems a bit low for a 65-70% probability given the current momentum. The dips haven't been that deep, even with broader market volatility. What makes you think it's not closer to 80%?