Why is ASM Technologies falling/rising?

As of 18-Jul, ASM Technologies Ltd is experiencing a price increase, currently at 2,909.20, reflecting a rise of 79.2 points or 2.8%. The stock has shown strong performance recently, with a 6.56% increase over the past week and a remarkable 112.51% rise year-to-date. Today's trading saw the stock outperform its sector by 2.9%, and it is just 2.43% away from its 52-week high. Despite a recent trend reversal after two days of decline, the stock is trading above all key moving averages, indicating a bullish trend. However, there has been a notable decline in investor participation, with delivery volume dropping significantly, which could raise concerns about sustained momentum. The company's strong financials, including a low Debt to EBITDA ratio and impressive growth in operating profit and net profit, support its positive outlook, although its high valuation metrics may deter some investors.
In the broader market context, ASM Technologies has outperformed the Sensex, which has declined by 0.90% over the past week, while the stock itself has gained 6.56%. This performance highlights the stock's resilience and attractiveness compared to the overall market. The company's ability to generate substantial returns over the past year, coupled with its consistent positive results, positions it favorably against its peers. However, the lack of domestic mutual fund investment may indicate some caution among institutional investors regarding its valuation. Overall, while the stock is rising due to strong fundamentals and market performance, the declining investor participation and high valuation could pose risks moving forward.