ASML has broken out of a falling trend channel

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ASML has broken out of a falling trend channel and is now testing resistance around 773.
The stock entered a declining trend after breaking down from a double top formation — the target from that pattern has long been reached.
Price is trading above a red Ichimoku cloud.
Volume balance has been negative throughout the chart, except recently.
Price momentum, including RSI(21), indicates potential for further upside.

From a fundamental perspective, analysts are predominantly positive on ASML.
The company has a near-monopoly in the production of photolithography machines used to manufacture the most advanced semiconductor chips.

Disclaimer: I hold a position in the stock.
Note: Always do your own research and analysis before making any trading decisions.

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