ASML – ASML Holdings

This is a 3 year weekly candlestick chart for ASML Holdings. In a previous article for ASML dated October 2, 2017 I stated the following:

“The confluence area is the $180 – $188 price area which is identified by the gray shaded box. This confluence area should provide resistance to the powerful uptrend at hand. That resistance area and anticipated pullback/consolidation that follows could be an opportunity to jump in on the uptrend for the long haul.”

Later in the article I looked at a support area in the $150 – $160 price range. ASML never dropped that low water the pullback. It only reached the $167 price level.

If you missed out on that buying opportunity, look for any weakness in the upcoming week to make a scale-in purchase for the medium to long-term. A dip back towards the $200 or slightly below would be preferable but with a hot stock it may be ok to be a little aggressive.