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$ASML approaching a interesting spot
Been watching $ASML this week, and the 1760-1765 area really seems to be acting as quite a firm ceiling. We saw a push up towards the 1761.31 today but it couldn't sustain above it, and it feels like there's some decent supply coming in around those levels. The daily candle printed with a pretty long wick, suggesting rejection.
I'm thinking a rejection from this zone could see it test the 1720 area again, maybe even lower if the broader market loses steam. The invalidation for this scenario, for me, would be a convincing close above 1765 on decent volume. If it breaks that, the short-term picture would shift significantly, and I'd reassess.
1 comments · 19 points
Yeah, I noticed that too. That 1760-1765 area definitely looks like a tough nut to crack. Do you think there's enough volume behind the rejections to push it significantly lower, or is it more likely to bounce around there for a bit?