On the above weekly chart price action has seen a strong 200% upward move since 2022. No doubt a move in part caused by the AI mania.
Is now a good time to buy?
Seeking alpha says “Buy the dip”
“ASML has returned to growth after revenue declines, with flat revenue expected for 2024 and growth anticipated in 2025, driven by new EUV tools.”
“Despite a 53% QoQ drop in net bookings, ASML's backlog remains strong at €36B, supporting a revised 2025 revenue outlook of €30-35B.”
A quick Google leads to no shortage of “buy the dip” articles. But then again, Google is not what it once was, with many paid for bias articles are evident.
The best News and outlook will always be the chart.
On the above weekly chart:
1) Price action and RSI support failures.
2) Broken market structure.
3) Look left, support and resistance, red arrows. The 2021 market top confirms resistance in October 2024. This is a significant warning.
4) The bear flag. It is has not yet confirmed, but a breakout is evident. A back test would be ideal, towards $800 area. The flag forecasts a 60% correction to support.
Is it possible price action continues to rise? Sure.
Is it probable? No.
Ww
Type: trade, short from $800
Is now a good time to buy?
Seeking alpha says “Buy the dip”
“ASML has returned to growth after revenue declines, with flat revenue expected for 2024 and growth anticipated in 2025, driven by new EUV tools.”
“Despite a 53% QoQ drop in net bookings, ASML's backlog remains strong at €36B, supporting a revised 2025 revenue outlook of €30-35B.”
A quick Google leads to no shortage of “buy the dip” articles. But then again, Google is not what it once was, with many paid for bias articles are evident.
The best News and outlook will always be the chart.
On the above weekly chart:
1) Price action and RSI support failures.
2) Broken market structure.
3) Look left, support and resistance, red arrows. The 2021 market top confirms resistance in October 2024. This is a significant warning.
4) The bear flag. It is has not yet confirmed, but a breakout is evident. A back test would be ideal, towards $800 area. The flag forecasts a 60% correction to support.
Is it possible price action continues to rise? Sure.
Is it probable? No.
Ww
Type: trade, short from $800
노트
Trade is active should the month close at current levels.Current price action is a confirmed break of market structure.
액티브 트레이드
The monthly chart per last comment closed under market structure.Expect a minimum 30% correction in the weeks and months ahead.
In the grander picture a collapsed under $400 is forecast.
노트
Watch for a bounce at the 600 area when it arrives, temporary support, before the downtrend continues.노트
Bear flag confirmed on monthly.Strong bearish divergence.
Whomever sold Long Put options at the time of this publication is probably sweating bricks by now.
노트
Market structure at risk of collapse. $666 must hold. Futures market suggests otherwise. If confirmed the full 60% correction advertised is inevitable.
노트
Bear flag confirms, 520 is a given. Buckle up.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.