easy play on ASML
I’ve been closely monitoring the monthly chart of ASML Holding (Euronext) and have identified a compelling setup that aligns with my long-term strategy. Previously, I shared an idea on TradingView with an ambitious $1200 price target, based on the stock’s strong long-term uptrend and solid fundamentals. However, upon further analysis, I’ve identified an internal trendline, which provides additional clarity and reinforces my bullish outlook. Interestingly, a similar internal trendline has been observed in other stocks like Super Micro Computer, further validating this structure.
Technical Analysis:
Primary Uptrend:
ASML is in a well-established long-term uptrend, confirmed by the primary ascending trendline connecting historical lows since 2012. This line showcases the structural strength of the stock and consistent investor confidence.
Internal Trendline Confirmation:
The recently identified internal trendline connects intermediate lows formed during price retracements, indicating a temporary slowdown in growth while maintaining an overall bullish structure.
This internal trendline has previously acted as dynamic support, suggesting it may serve as a critical reference point for future price action.
Key Price Levels:
The current price (631.5 EUR) sits near a confluence zone between horizontal support and the internal trendline. This presents a strong entry point for a long position with an attractive risk/reward ratio.
Significant support has been identified around the 600 EUR level, reinforcing my confidence in a potential price rebound.
Long-Term Price Target:
My long-term price target remains at $1200, which I believe is achievable as the stock continues to respect its bullish trend. This target aligns with ASML’s historical growth trajectory and the robust potential of the tech sector.
Entry Timing:
The recent bounce off the internal trendline and the +1.66% daily gain signal positive accumulation and increased buying interest. I plan to go long now, taking advantage of the dynamic support, with a stop loss set just below 590 EUR to manage risk effectively.
ASML Holding offers a compelling investment opportunity, supported by a solid technical structure and clear bullish potential. The internal trendline, combined with horizontal support and the broader long-term uptrend, strengthens my confidence in entering a long position. With a $1200 target and a well-defined risk management plan, I believe this is the right time to position for the next leg up in this stock.
Technical Analysis:
Primary Uptrend:
ASML is in a well-established long-term uptrend, confirmed by the primary ascending trendline connecting historical lows since 2012. This line showcases the structural strength of the stock and consistent investor confidence.
Internal Trendline Confirmation:
The recently identified internal trendline connects intermediate lows formed during price retracements, indicating a temporary slowdown in growth while maintaining an overall bullish structure.
This internal trendline has previously acted as dynamic support, suggesting it may serve as a critical reference point for future price action.
Key Price Levels:
The current price (631.5 EUR) sits near a confluence zone between horizontal support and the internal trendline. This presents a strong entry point for a long position with an attractive risk/reward ratio.
Significant support has been identified around the 600 EUR level, reinforcing my confidence in a potential price rebound.
Long-Term Price Target:
My long-term price target remains at $1200, which I believe is achievable as the stock continues to respect its bullish trend. This target aligns with ASML’s historical growth trajectory and the robust potential of the tech sector.
Entry Timing:
The recent bounce off the internal trendline and the +1.66% daily gain signal positive accumulation and increased buying interest. I plan to go long now, taking advantage of the dynamic support, with a stop loss set just below 590 EUR to manage risk effectively.
ASML Holding offers a compelling investment opportunity, supported by a solid technical structure and clear bullish potential. The internal trendline, combined with horizontal support and the broader long-term uptrend, strengthens my confidence in entering a long position. With a $1200 target and a well-defined risk management plan, I believe this is the right time to position for the next leg up in this stock.
Trade active
the idea is working, on long term the target is 3200$Note
what the heeeeeck? random drop hereNote
the idea is working very very good the trendline is still here, wanna ask for other ticker? support me on ko-fi.com/averagetrader00Note
NO PANIC
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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.
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.