TSM Broke the trend line. How far down will it go now?After a long climb, TSM has broken the trend line to the downside. This is likely to retrace for a while before we see another impulse back up.
2330 trade ideas
$TSM Taiwan Semiconductor Manufacturing Company +200dmaTSM is looking quite positive on the charts. After correcting from $142 all the way down to $108, the stock managed to print a double bottom at 108 and hold higher. The stock is now also starting to make higher highs and higher lows on the daily which is bullish. Most recently we bounced just above the 200dma and the 50dma is starting to turn higher, still trading above its 200 day moving average. I kind of like the look of this setup..
$TSM with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $TSM after a Negative Under reaction following its earnings release placing the stock in drift D
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TSM breakout + measured move The chart shows a descending triangle, with a breakout.
The breakout yesterday and today, have been on strong intraday volume.
A measured move can be made by adding the height from the double bottom (purple circles), to the area of the breakout. Using the green arrows to represent the potential move, which takes us to $152 approximately. Which is coincident with the extended move of the fibonacci retracement lines at 61.8%.
$135 and $142 are potential resistance zones, where we could see some profit taking.
$TSM ascending trianglelast week, $AAPL and $AMZN have broken their long consolidation pattern to the upside. Big tech names will likely follow up. $TSM will be my play.
I already have a $TSM position in stocks, but will also play credit spread for this move.
Symmetrical Triangle - TSMBig symmetrical triangle forming on TSM
- Buyer volume starting to pick up again relative to seller volume
- EMA's are all starting to curl upwards (not pictured)
- Bollinger Bands are squeezing
- Will be looking for a breakout at the end of this triangle (broader market conditions permitting)
TSM semi conductor playTSMC is providing chips for AAPL and AMD until they can get their chip shortage under control. A clear winner in the current sprint to catch up, but maybe not for the marathon. American companies should be getting funding in infrastructure bill to help them get ahead in the future, but for now I think this play is the best one. RSI & MACD are currently flat while it continues out of it's consolidation pattern. A break and hold over 121.50 would indicate a retracement of previous run up and track up to target prices of 126/128/131/138 and eventually breaking the ATH of 142.20
Symmetrical Triangle Earnings 7/22TSM appears to be meeting the resistance of the top trendline.
This pattern is neutral until a trendline is broken with a trend in that direction.
No recommendation
TSM looking bullish after 50% retracement from previous impulse TSM broke our of the descending channel. Now it seems to be consolidating forming a bullish ascending triangle pattern.
Potential to go up to $140 in the near term?
My View on TSMTSM is good to buy and hold. I expect that TSM breakout the trendline and touch the previous high (17% gain). Stoploss below 112 (5-6% loss)
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This is not financial advice. I'm not a Financial Advisor.
Trading is a high risk, do your own DD.
Let me know what you think
Cheers, I would share all my thought next time.
PEACE.
$TSM Buy around 118-119.50Buy around 118-119.50
Stop Loss 108 on daily closing bases
Target 127// 141
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Do your due diligence this is not investment advice.
added to $TSM $AMD4h 9 candle on $TSM.
$AMD broke out of strong resistance, revisited and bounced up. Both are very strong names.
TSM potential growth to 130. Entry above 120With the chip shortage, TSM looks amazing for a potential run. It's been consolidating for a while now. Looking to buy after the 120 level break-out.
2-3 weeks potential growth to 130.
TSM could be a buy at 109$ - 110$MACD show a supporting divergence...
On next down move a buy should be possible at 109$ to 110$
A little late, but in time for the new bullish momentum in TSMHello traders, if a little late but in time to buy TSM, perhaps in a next Fibo retracement, with minimum objectives the historical maximums, it is a good time for technologies, a new upward momentum is coming ...
