Watching the $ASML open tomorrow for follow-through
Been keeping an eye on $ASML today. It had a decent pop, closing up 2.15% at 1740.99. The intraday low was 1720.11 and it topped out at 1761.31. What's interesting is that while it broke above yesterday's close, it couldn't hold onto those higher levels by the end of the day, indicating some sellers stepped in around the 1760 area.
For me, the key tomorrow is whether we see follow-through buying or if that 1760-1765 zone acts as solid resistance. If it opens strong and clears 1761.31 decisively, I'd be looking for a push towards 1780-1800. However, if it struggles to get past that 1760 region and starts to drift back towards 1740, then today's move might just have been a relief bounce that's fading. The invalidation for the bullish push would be a close back below 1720.11. That would suggest the bears are still firmly in control and today was just noise.
A 2% move in ASML isn't exactly a 'pop' given its usual volatility. I'd be more interested in what volume looks like on any further upward movement before assuming a breakout.