$TSM at supportIt needs to get comfortably above the 106.39 shelf in order to make a run but there are some gains to pick up between its current support and the next resistance.
TSM trade ideas
TSM - Elliottwave analysis -Buy for 5th wave up after correctionTSM - It is in 4th subwave correction and may take around a week time to complete the cycle in corrective mode. Thereafter it will be rising for 5th wave up as final sequence. It is outperforming all the indices like SPX and NDX.
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Taiwan Semiconductor Manufacturing. A Must Have for 2021.TSM has continued its bullish uptrend since March following the rest of the stocks in its sector. In the past month, it has swerved past the $90 resistance that has been holding it down and continued an even steeper uptrend. The uptrend channel looks strong and has only shown weakness back in July. Surrounding the stimulus news and the fact that it has been a major player in helping Apple produce its own chips is what is moving this stock upwards.
TSM has room for upside in my opinion but taking a long position right now might not be sustainable. The Fibonacci retracements show the closest support level is between $89-$93.
Given the current market conditions along with vaccine news and stimulus, I would wait and see if the current uptrend holds.
A drop to $89-$93 is what I am looking forward to in order to take a long position and set a stop loss limit at $80.
My PT for 2021 is $130.
$TSM Neutral OutlookLooking for increasing bullish volume and follow-through on break of the upper trendline of the consolidation channel. Otherwise I'm watching break of $95.50 with bearish volume to fill the gap.
Notes:
- Gap in the chart
- Declining volume on re-test of upper trendline of consolidation channel
TSM is at the low startTSM may be ready for the breakout. It has high odds of opening with the bullish gap after the holidays. However, we'd not chase the price and waif for the reasonable price for entry (pullback)
Price target above $100Bitcoin doesnt seem to be losing any steam and chips are always in demand. Buy here or regret it in this chip driven world.
TSM Long from Q2 2021. TP 120Monthly
Strong uptrend.
I think for now its too much overheated.
Correction is needed.
Weekly
Wave 5th is finished.
No reasons to open long Now.
Better from end of correction. I think from Q2 2021 - will be good entry.
Daily
I expect Double TOP - people will try to get 100, but failed again.
Also weak Earning in Q1 2021 = decline. ABC correction.
Open LONG in Feb- March. from 82
SL 75
TP 120
RR 6
TSM : POSITION TRADEBase on top of a base. Buy on break of previous days high or break out from all time high on above average volume.
BUILDING MOUNTAINIt seems like we are building mountain here, BULLS are surely having fun climbing this. What do you think? lets see also this by EOD. Could this reach 100? Well i was hoping for it or more. As long as Bulls are happy
TSM: This had exploded since INTC revealed a couple of monthsago that their nano chip will be delayed. INTC are seeking outside help with their nano chip manufacturing and TSM may have landed a big chunk of their business. AMD, the other competitor seems to have cooled.
TSM offers another change to enterTSM still has a tight average true range compared to other stocks beaten down this past week. The 10d ATR (x2.7) suggest a stop of only 6.91% below purchase price and allows for a position size of R14.47. Buy on more strength as it passes today's high. It's already a pretty tight stop, but could further tighten the stop by using yesterday's low, but would be more likely to shake out.
Buy Point: 91.18
Stop Loss: 6.91% (84.88)
Position Size: R14.47
End of wave 5?Should we short now based on the price action? I think we can attempt as we are nearing the end of wave 5. Rising wedge and bearish engulfing candle indicate a failure to close above the ATH's top. As such, we are looking for a major correction ahead.
TSM - Elliottwave analysis - 5th wave extensionTSM - It seems extending 5th wave of impulse cycle. So stay bullish in three wave pull back each time whenever the correction will be choppy sideway. The up move seems like in 3rd wave, where subwave 1 is about to finish. Thereafter 2nd subwave correction will be proceed, which may go deeper down. so buy near 87-85 zone with stop level below 83.10 for target of new high above 96 to 100 level. This is one of the most outperformer stock to NDX or SPX.
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