Dark pool trading occurred in ASML Holdings $ASML stock days before analysts upgraded the stock to a Buy rating.
Dark Pool Trading In ASML Holdings
A $39 million dark pool block order occurred in ASML Holdings $ASML stock on October 18, 2022. We think the dark pool trade was a buy order because $ASML stock rose following the trade being made public.
Make sure to review this lesson on dark pool trading so that you understand the chart above.
Applied Materials, ASML upgraded at New Street
On October 21, 2022, New Street analyst Pierre Ferragu upgraded $ASML stock to Outperform. Ferragu expects wafer fabrication equipment spending to bottom in the low $60B range, on a 12-month trailing basis, which means he expects only one more leg of revisions. Based on the last cycle in 2018-2019, this means now is a good time to build positions in the sector as multiples and stocks typically bottom a few months before the last leg of revisions in revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... expectations.
ASML upgraded to Buy on backlog at Deutsche Bank
On October 19, 2022, Deutsche Bank analyst Robert Sanders upgraded ASML to Buy from Hold with a EUR 550 price target. Sanders says that the stock’s 40% decline year-to-date has created a much heathier entry point. Sanders thinks that ASML can grow its revenue substantially in 2023 despite wafer fab equipment spending declining sharply as extreme ultraviolet and immersion is being ring-fenced at many customers. He thinks the company’s backlog is resilient enough to avoid a major impact from pushouts for the duration of the current downcycle. Sanders sees an attractive entry point at current share levels.
Why The World Relies On ASML For Machines That Print Chips
ASML Holdings $ASML Stock Technical Analysis
ASML Holdings $ASML stock is in a technical strong downtrend. Long-term indicators suggest a continuation of the downtrend. Our momentum indicator has turned neutral (gray) on October 21, 2022, suggesting the possibility of a trend reversal. The MACDThe MACD indicator is essentially a momentum indicator that shows the relationship between two different moving averages of price. The MACD is the difference between the 12-period ... and money flow just went positive in the stock during the week beginning October 17, 2022.
