TSM/N trade ideas
TSM nice bounce in uptrend channelNice uptrend channel pattern. A bit late on this, but still quite compelling.
Interested in everyone's thoughts.
Missed OpportunityLast summer I was learning about Stock Screeners and was playing around with the tool. I had inputted some very difficult ranges for several evaluation categories.
I followed the stock for a little while and then gave up, only now following up.
Missed Opportunity as it was a strick set of criteria (almost impossible) I had inputted into the screener. I actually thought it was to good to be true as the TSM and EDU (both NYSE) were the only stocks that appeared in the results.
EDU went from $22 to $34 in about 6 months. Wow, I have to believe!
TSMPotential Diamond (BLUE) is complimented by the potential IHS on the daily chart which would put price near the declining trend line.
Diamonds can break either direction
Seeing upside potential for TSMThe fundamentals suggest TSM is ready for a rally back up to $20 or greater.
Twice open Gapped down the recent one (like the first) rallied and closed up for the week which was a smaller rally than the first. Rally was to 21 daily ema. Retesting bottom, will it hold or drop lower to previous resistance now potentially support at around $15.
If it gets above $17.50 before $15 then likely will run higher. I like the fundamentals of this stock a lot just waiting for confirmation on the technicals to enter long. Another long entry may be if and when price closes above the 21 ema.
