Shares of ASML Holdings (ASML) continue to rally higher as the markets climb. The bounce from the March lows has been tremendous, from a low pivot of $191.00 to the current price of $311.44. The bounce has been insane but could be coming to an end. There is a stock chart double top trade at $318.50, which also matches the all-time high. This is likely to be major resistance on the stock and a near-term pull back level.
As a swing trader, I am looking to short ASML Holdings at the $318.50. This is a classic stock chart double top trade. A pull back in the near-term to $275.00 is likely, netting 13.66%. Look for this level to trigger the short trade within a day or two.
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