Heading Into Earning With a Bearish Flag

10 Eki 2024

ASML a leading chipmaker is showing an interesting pattern!

In the short term, momentum appears bullish as the price has crossed the 20 SMA and is approaching the 50 SMA, with analysts expecting positive earnings. However, on the daily and weekly charts, a bearish flag pattern is forming, which suggests a potential downtrend. If the price breaks above the 849 resistance, the bullish momentum could continue, but if it fails, the downtrend may push the price towards the 775 support level.

15 Eki 2024

Not

ASML honored its bearish flag configuration today and it's tanking 10%.
They reported Q3 bookings of €2.63B, versus the estimate of €5.39B, and lowered their 2025 guidance.