Yet Another Shot at ATH
Updated
With the gap filled, and prior highs showing support, and demand for chips not decreasing even the slightest, I think we got a clear show at ATH from here.
I've taken a started position on this 50d ema test that coincides with prior highs. See the 2 day timeframe on the left, that pullback from ATH was nothing. Compared to the hourly on the right it sure seems like they were big moves.
Always have to zoom out. I'll add more to my long position so long as we establish support on the way up.
I've taken a started position on this 50d ema test that coincides with prior highs. See the 2 day timeframe on the left, that pullback from ATH was nothing. Compared to the hourly on the right it sure seems like they were big moves.
Always have to zoom out. I'll add more to my long position so long as we establish support on the way up.
Trade closed: stop reached
stop was the 50dema and that price 186+ price support. The 20d ema is acting as resistance broadly across the indicies many other stocks. So this bear trend might be a bit more than short term.
After a 50% run for TSM specifically, a 15-20% pullback is not unreasonable. And this bullrun is market wide. So far we are not seeing anything that is going against trend dramatically. Pullbacks within a trend, like what we have now, is what we want to see. No taking shorts at support, and across the broader market, we are trading around lots of support.
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