ASML is trading at interesting zone.
Two things could play out from here.
Concerning Points.
- PE stretched, median PE over the last 13 years has been 35.
- Has broken 10/20 day moving averages (daily).
- Several Gap up's on daily chart.
Positive points.
- AI play is still intact with strong demand.
- Dominant/only player.
- Zoom out to weekly chart, and you will see a cup and handle pattern forming.
Which leads me to believe that, it might consolidate here for some time, forming the handle.
followed by breakout.
Two things could play out from here.
Concerning Points.
- PE stretched, median PE over the last 13 years has been 35.
- Has broken 10/20 day moving averages (daily).
- Several Gap up's on daily chart.
Positive points.
- AI play is still intact with strong demand.
- Dominant/only player.
- Zoom out to weekly chart, and you will see a cup and handle pattern forming.
Which leads me to believe that, it might consolidate here for some time, forming the handle.
followed by breakout.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.