ASM International - Intraday - We look to Buy at 232.1 (stop at 219.8)
Levels below 230 continue to attract buyers.
Trading has been mixed and volatile.
A lower correction is expected.
Bespoke support is located at 230.
Further upside is expected although we prefer to buy into dips close to the 230 level.
The primary trend remains bullish.
Our profit...
This is a breakout inside an uptrend that in witch entry suggested by setting sl at about 265
In fact after breaking a descending trend line, it's the first level that broken.
ASM International - Short Term - We look to Sell a break of 279.90 (stop at 291.90)
The medium term bias remains bearish. Trades with a bearish descending triangle formation. A break of bespoke support at 280.00, and the move lower is already underway. After strong selling pressure at the start of the week the pair consolidated yesterday with little net change...
The company fundamental is strong. According to my analysis, wave 3 has touched the 1.236 point. Still waiting to see if this wave has ended or it will continue to make higher high to 1.618.
ASM has confirmed the "SHS" pattern is bullish , open long here and stop loss is at: $122
Buy : $128 +- $0.5
Stop loss : $122
Target : $175 +-3
Wish you good deals !
Earlier I sold putoptions on this stock. Now it's time to cover this shotrt position and take your profit. I ex [ect the stoch to fall back to the € 100 level. At that level I will go long again since I expect ASMI to reach the € 130 level this year.
This company is in transition. A new CEO will be introduced this year and the company has e minority stake in a ASM Pacific Technology and I expect ASMI to sell this stake.
AVERAGE ANALYSTS PRICE TARGET $15
AVERAGE ANALYSTS RECOMMENDATION Overweight
P/R RATIO 15
COMPANY PROFILE
ASM International NV engages in the research and development, design, manufacture, and sale of equipment, and provision of service to customers for the production of semiconductor devices and integrated circuits. It operates through the Front-end...
H&S reversal pattern at the end of a long uptrend in combination with broader market weakness (including semiconductors). Worth looking at for some short exposure.
EURONEXT:ASM
