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Possible Bearish Inside Day Candle Pattern Detected for ASML Holding (NASDAQ:ASML)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in ASML Holding (NASDAQ:ASML) based on the price action in the company's shares. Yesterday's price range of $98.10 and $98.67 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of ASML Holding may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

ASML Holding share prices have moved between a 52-week high of $114.14 and a 52-week low of $77.17 and closed yesterday at 28% above that low price at $98.44 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

Potential upside of 2.9% exists for ASML Holding, based on a current level of $98.44 and analysts' average consensus price target of $101.33. The stock should find initial support at its 50-day moving average (MA) of $97.23 and further support at its 200-day MA of $92.11.

ASML Holding N.V. develops, produces, and markets semiconductor manufacturing equipment. The Company's products allow semiconductor manufacturers to choose the optimal numerical aperture and wavelength for their applications, assure uniformity, and produce more using less floor space.

SmarTrend is monitoring the recent change of momentum in ASML Holding. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of ASML Holding in search of a potential trend change.

Keywords: bearish am inside day candle ASML Holding

Ticker(s): ASML