ASML shares have recently seen heavy selling and were pushed sharply toward support at €1231. In the short term, the price still has some downside potential to complete the current interim correction, with the corresponding low expected to form above support at €1231. We then anticipate the ongoing long-term uptrend to continue, targeting a move above resistance at €1741. Once this impulse tops out, we expect a significant correction to follow. Alternatively, a correction may already be underway. In this case, the price could gain enough downside momentum to break directly below support at €1231 (probability: 39%).
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📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Related publications
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.