ASM International - Short Term - We look to Sell a break of 279.90 (stop at 291.90) The medium term bias remains bearish. Trades with a bearish descending triangle formation. A break of bespoke support at 280.00, and the move lower is already underway. After strong selling pressure at the start of the week the pair consolidated yesterday with little net change...
The company fundamental is strong. According to my analysis, wave 3 has touched the 1.236 point. Still waiting to see if this wave has ended or it will continue to make higher high to 1.618.
The pitch fan remains intact. Short term long position.
I'm watching the resistance for the coming days. If it goes through the 213 trend reversal is confirmed
Daily and 4h bullish divergence, retested support level and broke supplyline
ASM has confirmed the "SHS" pattern is bullish , open long here and stop loss is at: $122 Buy : $128 +- $0.5 Stop loss : $122 Target : $175 +-3 Wish you good deals !
Earlier I sold putoptions on this stock. Now it's time to cover this shotrt position and take your profit. I ex [ect the stoch to fall back to the € 100 level. At that level I will go long again since I expect ASMI to reach the € 130 level this year.
This company is in transition. A new CEO will be introduced this year and the company has e minority stake in a ASM Pacific Technology and I expect ASMI to sell this stake.
H&S reversal pattern at the end of a long uptrend in combination with broader market weakness (including semiconductors). Worth looking at for some short exposure. EURONEXT:ASM