TSM looking to complete Inverted Head and SholdersTSM Looks to be about to complete an Inverted Head and Shoulders pattern on the 4hr time frame. A break of the trend line and hold should be a good entry. A break of 123.50 would be the super safe entry. Neckline to head is roughly 13pts, so the expected move from the neck to completion should be the same which would put our High End Price Target at roughly 134(right near a resistance) with 126.50 being our intial price target. Currently a safe contract would be a June 18 2021 Call, strike dependent on your capital and risk tolerance.
TSMC trade ideas
TSM (NYSE) - Go Up
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Idea :
TSM (NYSE) - Go Up
Short term pullback or towards Fib 0.5?It has been trending down since Feb 16th. And finally showing a big bull candle break through trend line.
Two scenarios:
1) Continue to rise and test resistance at $121. If it breaks, then the correction is done. And the begin of Wave 5.
Or
2) If next couple of days it shows us bearish candles, retest previous low of $108 and failed to hold, we will see further retrace to Fib 0.5 $96 or the next support at 200 Moving Average.
Final thought: MACD is negative and no momentum. RSI is low and tilting up a little. But something fishy about the relatively low volume the day the big green candle punched through trend line,
TSM might be heading down more until the big guys shake off all the bag holder.
$TSM 3/26/2021Tech went through a nasty correction. I believe the correction may be over most tech stocks are trending to oversold.
The case with TSM is they have corrected back to key levels and are oversold on the RSI. And SQZMOM Bear and MACD both show a trend to positive upside.
On Friday they closed over $115.81 and that's a good sign to bounce back to the next resistances $120.87 $124.96 $129.05 $134.87 $142.28
Worst case scenario it falls back under the most recent support at $115.81 then tests $107.63 then $103.38 after $103.38 is danger zone.
Earnings Call is April 15th and i expect them to beat expectations and they have a history of performing true to earnings. So could have a sharp move north if good earnings are announced.
TSM Double Top with Fibonacci Fan Retracement to .25As seen in the previous occasion TSM ventured above Zero and approached .25 we can clearly see two peaks. Although the second peak is above the first, as in both cases illustrated in pink, the second peak had a greater gap between .25 and the peak candle.
💡$TSM💻 Waiting for trend breakout💰+15%🏌️♂️NYSE:TSM 📚TSM seems to have found price support at $114. Price is being supported by a long term bullish price channel, yet has been trading down since 16th Feb. Should price break out of this bearish structure, it could head higher to $135, near ATH. Watch though as price may tag the 50 day MA first.
TSM . LONG. APRIL WE GET HIGH , MAYB TODAYS NEWS WILL CAUSE THE PRICE TO DROP TO MY BUY IN AREA ( BUY AT UR OWN RISK IM A NON PRO )
EARNINGS ARE IN APRIL WHICH WOULD MAKE IT BEST TIME TO TP IF YOU BUY AT RIGHT TIME .
CHIP SHORTAGE IS EFFECTING EVERTHING . LOOK INTO IT ! DO YOUR OWN DD AND COMPARE YOUR INFO TO MY CHART ! ID LOVE TO TALK ABOUT THIS.
THE MARKET AS A WHOLE, IS DIGESTING LAST QAUARTER EARNINGS. THIS IS HEALTHY OVERALL
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