ASML Holding Stock Near Pivotal Support Area

  • Post category:Technology
  • Reading time:2 mins read
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ASML Holding ASML stock is in a technical downtrend as the selling in the stock picked up on September 15, 2023. Rumors are circulating that Taiwan Semiconductor told ASML to delay the delivery of its high-end machine due to a slow down in consumer demand for microchips.

ASML stock chart on September 17, 2023, in a downtrend channel with On Balance Volume plunging lower.

The On Balance Volume indicator looks like a “Katie bar the door” panic selling out of ASML stock.

Key Support Test Next Week

ASML weekly stock chart on September 17, 2023, testing a critical support level at $596.66

ASML stock is testing critical March 2023 support. A break below this level could see ASML stock falling all the way back to test its October 2022 low.

ASML Holding is a Dutch multinational company that specializes in the design, development, and manufacture of advanced photolithography systems used in the semiconductor industry. They are a key supplier to major integrated circuit (IC) manufacturers worldwide. ASML’s lithography systems are crucial in the process of manufacturing ICs, as they enable the precise patterning of intricate circuitry on silicon wafers. The company’s technology plays a critical role in the production of smaller, faster, and more powerful chips used in various electronic devices like smartphones, computers, and other high-tech devices. ASML also provides software solutions and support services to its customers.

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