$TSM monthly$TSM monthly chart is trading in a range. By watching price action within this range can give us some insight about how $TSM will likely act in the future.
Fundamentally, it is a great stock with strong competitive advantage, our fundamental outlook would be buy.
In the monthly range, we see 2 selling pressure bar and 3 buying pressure bar -> bears and bulls fighting out. We see 3 wicks bouncing off $108 level, this shows strong bull defense and foreshadows a breaking up out of the range. Traders should lean bullish when we can up to the upper range.
However if $108 broke we can expect those stubborn bulls to aggressively selling off. My plan right now is to wait for price to get to the upper range and watch for a handle pattern and trade long.
