Taiwan Semiconductor - Riding the Nvidia bullish wave
TSM has been on an uptrend and the recent correction has been a weak bearish downside, forming a bullish flag instead. Yesterday's bullish bar break above the flag has been confirmed and long-term MACD has been rising, supporting the long-term uptrend. We believe that the stock is likely to continue to edge up higher in the longer-term. SHort-term target is at 230.00 while long-term we are eyeing beyond 280.00-300.00
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.