[Long] TSMExcellent breakout volume for this essential chip maker that everyone is fighting to use.
I was not as heavily positioned as I'd like due to volatility in the main indicies. But this (and EWT) have been relatively strong.
TSM trade ideas
daily analysis of TAIWAN SEMICONDUCTOR MANUFACTURINGHi friends
the daily chart of this market shows that it will experience with a high probability an uptrend in the coming days but at the same time you have to be vigilant of the change of direction towards the opposite
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TSM new Intel cpus manufacturer BREAKOUTTSM new Intel cpus manufacturer Possible BREAKOUT
Ascending triangle, bounced on the resistance.
PT 88
TSM is the only undisputed winner btw Intel/Amd competition.
Stop loss if market crashes
if u like the idea or you dont please comment or like it xD
TSM Analysis Expect a bullish breakout
Daily
Bull Flag
Bullish Separating Lines
Increasing volume
Bullish Momentum Reversal
MACD/RSI Curling up
Breakout Level: 83.33
4hr
Bullish Rectangle
Consolidation with Wide Price Swings
Bullish Engulfing Outside Bar (with Volume)
Bullish Hidden Divergence (CCI)
Bullish close above 81.75
Strength in Trend
1hr
Inverse H&S (Complex Bottoms)
Bullish Hidden Divergence (MACD,Stoch,Diosc,VWMacd)
3 White Soldiers (with rising volume)
Strong Bullish Momentum
Bullish Rectangle with Consolidation since 07/28
Excellent opportunity :) We can observe with a circle that we reach a historical maximum
Normally in these patterns it goes down a bit and consolidates the price to continue rising
Purchase range from 79 to 75.5 is to accumulate
The SL put it at 74.9
Blessings to all
TSM Looking for the buy moveHello traders:
Taiwan Semiconductor Manufacturing caught me attention for the next buy move.
Price has been impulsing up, and we see the corrective structure forming here.
I do like to see one move move down from the price, and look for reversal price action from the bottom of the structure.
alternatively, if we get the bullish momentum now, then look for the next lower time frame correction to buy.
Thank you
TSM - pump it for new high TSM - (Taiwan Semiconductor Manufacturing) is in strong impulse move up and started 5th final move up. so buy it near 78.10-77 zone with stops below 75.85 for target above 86 or higher as 5th wave up.
TSM Ascending Triangle to 82.7 85.6 and 88.90 - EOWSmall chance of seeing 76 before the run to 88 occurs. Hopefully the previous 2 re-tests of that price were enough.
TSM Gap Fill ReversalTSM previously gapped up from the $76 level to the $81 level. It just filled it's gapped back down to the $76 level. Now that it has filled its gap, i'm expecting a reversal back up to the 81 range. After most gaps fill 100% they reverse to the next closest level of support/resistance, in this case its the 81 level.
TSM: Cup with handle longBeautiful cup with handle formation. Breakup out of handle plus above the recent daily downtrend line. From weekly chart you can see it is in a long term uptrend. Notice the large positive reversal in the weekly RSI. (lower RSI with higher bottom in price). This gives a target of a possible target of 84.
From Zacks;: Taiwan Semiconductor Manufacturer Co is the world's largest dedicated integrated circuit foundry. As a foundry, the Company manufactures ICs for its customers based on their proprietary IC designs using its advanced production processes. TSMC's goal is to establish itself as one of the world's leading semiconductor companies by building upon the strengths that have made it the leading IC foundry in the world.
TSM - $80 Price Target / Will Consolidate / Move Higher0. Notes to follow;
1. We have been in this and accumulating since the $50's. Great stock. Foundry for AMD, and beneficiary of their 16 percent run yesterday, with TSM up 10 Percent;
2. Stock is less volatile, with new plants in the US and Japan coming soon;
3. They may buy the plants from INTC as they are hurting and TSMC will probably always be ahead of INTC now;
4. Looking for stronger move to $80, and a yearly finish up to $100 a share;
TSMIf we are really pulling back in the market in the back half of the summer where do you want to re-accumulate your favorite names? I like TSM normally if we retrace id like to buy a deeper pullback but the gap fill looks like a decent spot lines up with the top range of the fib if you are looking for a nice swing trade into December.
Taiwan Semiconductor guidance crushed Street estimatesI saw a couple articles this morning suggesting that maybe TSM sold off today because forward guidance disappointed Street expectations. That's nonsense. Revenue guidance came in about 7% above expectations, and earnings guidance came in about 15% above Street expectations. This company's guidance crushed it . The stock sold off for one reason only: it is overbought.
TSM does look a bit pricey, even with the strong guidance for Q3. Even after factoring in the strong forward guidance, I am calculating forward P/E at about 21 and forward P/S at a little below 8. That's about 20% more expensive in forward P/E terms and 34% more expensive in forward P/S terms than the stock's average valuation over the last three years. In this challenging macroeconomic environment, that seems like an unreasonable valuation. It's a reflection of how inflated tech valuations have gotten due to Fed liquidity and investors piling into tech as a safe haven.
Having said that, TSM has an extraordinarily strong growth narrative right now, as the company is set to take over chip production for Apple. Formerly Apple's chips were manufactured by Intel. TSM also makes chips for Qualcomm, among other large companies. Thus, I think TSM will continue to outperform the Nasdaq and is a buy on any significant pullback. Ideally, I'd like to see this stock pull back to the volume node near $53.50 before buying, but in truth I don't see that happening any time soon.
