ASM International stock breaks through its €750 support level, far from its May record
The Dutch semiconductor equipment deposition manufacturer is experiencing a very heavy trading session, in a sector hit by a global correction in technology stocks. The decline has caused a threshold that the stock had been defending for several weeks to give way.
A black session that extends a weekly decline of more than 16%
European semiconductor stocks are retreating sharply this Thursday, in the wake of a correction in technology stocks on a global scale. The acceleration of American inflation and questions about financing artificial intelligence infrastructure are weighing on the sector, according to the brief of the day from the market. In this context, ASM International stock is down 8.78% at €752.40, while the CAC 40 is up 0.28%. The stock is already down 16.27% over one week, a decline that recalls that the stock had set a historic record on May 6 at €871.60.
The €750 support gives way, the stock falls below its three moving averages
During the session, the price has broken through its €750 support level, and its last recorded level is below this threshold, at €748. The stock is trading below its 200-day moving average at €806.30 (down 6.68%), which also places it below short and medium-term averages situated between €847 and €869. The RSI at 42.7 remains neutral: today's decline has not yet weighed on this indicator.
Over the quarter, the stock is down 18.89%, while it maintains a gain of 39.64% over one year. The next visible bullish reference point in the data is found at the €947.80 resistance level.
