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There are signs that NASDAQ:ASML may be ready to breakout.

By Mill Chart

Last update: Apr 17, 2024

Our stock screener has flagged ASML HOLDING NV-NY REG SHS (NASDAQ:ASML) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NASDAQ:ASML for potential movement.

ASML Daily chart on 2024-04-17

Zooming in on the technicals.

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, ASML scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, ASML has proven to be a steady performer, scoring decent points in every aspect analyzed.

  • The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
  • When comparing the yearly performance of all stocks, we notice that ASML is one of the better performing stocks in the market, outperforming 92% of all stocks.
  • ASML is one of the better performing stocks in the Semiconductors & Semiconductor Equipment industry, it outperforms 82% of 107 stocks in the same industry.
  • ASML is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so ASML is performing more or less in line with the market.
  • In the last month ASML has a been trading in the 928.00 - 1022.66 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

Check the latest full technical report of ASML for a complete technical analysis.

Why is NASDAQ:ASML a setup?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:ASML scores a 9 out of 10:

ASML has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 985.28. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 974.71, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NASDAQ:ASML?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Of course, there are many ways to trade or not trade NASDAQ:ASML and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.

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ASML HOLDING NV-NY REG SHS

NASDAQ:ASML (5/24/2024, 7:14:49 PM)

After market: 956 -0.22 (-0.02%)

956.22

+21.97 (+2.35%)

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