Taiwan Semiconductor TSMC (NYSE:TSM) reports April revenue rose 16% Y/Y and -13.8% M/M to NT$111.315B.
YTD revenue advanced 16.5% to NT$473.725B.
TSM trade ideas
Bearish Triangle $TSMI am currently short $TSM, the weekly and daily charts were forming a symmetrical triangle consolidation. Price broke below and could drop as low as $107, price target is marked with the horizontal yellow line.
TSM US STOCK, Price Action Analysis By Hamza Ali This stock is been in a super uptrend for a while now, right now it is some type of correction phase, we can look for shorting opportunities if it close below the mentioned support zone which will lead us to the bottom of the descending channel. But if we see a bullish close above the mentioned resistance zone it will lead us to a bull run to the all time highs.
TSM correctionA simple observation: TSM has been tracing a textbook desending triangle following the recent ATH. Commonly considered overvalued (despite prevailing chip demand), it would surprise few to see a 10% correction down to the 103 support level.
TSM has a good upward potentialTSM as semiconductors should have a good upward movement.
Chart for TSM looks good to make the next move up again.
Speed Analysis Indicates a Year Ahead without Much GrowthTSM is an excellent stock when it comes to the fundamentals of the company, yet, it has experienced a major slowdown recently. Analyzing the speed of the growth based on the latest two major bullish trends, the COVID-19 trend and the one before it, one can identify the median range where we stand right now. The Fibonnaci Speed Fan analysis also takes into consideration the exponential growth starting this year and uptil a little after the GameStop squeeze, showing that it was in the normal, albeit high-end range of operation of the COVID-19 trend. Since the highest point was hit in February, now gravity is pulling us back towards the pre-COVID19 levels, and not only the pre-GameStopSqueeze ones.
There's another major factor at play here: the Chinese market. Comparison with GLOBALPRIME:CHINA50 , as indicated in the chart, shows that TSM is faring better than, while being heavily influenced by, the market condition in China. Given my analysis before regarding the Chinese market, I believe we are now in the normal pre-COVID 19 range of operation and we are not witnessing a bear for now.
For TSM, I don't see a bear either given the company's excellent profile. However, the stock price is not yet in the pre-COVID19 range, as it's stuck in the median trend. This should change given the lack of momentum arising from market saturation. My estimation of a price target is around 130 for April next year, when the current flattening meets the pre-COVID19 trend line..
TSM Analysis $TSM | #Analysis | #StockMarket
Price Target 134.22 🎯
Inverse Head & Shoulders ✅
Ascending Triangle + Smaller Symmetrical Triangle ✅
Entered into Demand with Bullish Hidden Divergence ✅
RSI Curling above 50 on Increasing Volume ✅
Entry on Break of 121 with Confirmation ✅
Invalidated below 113.70 ❌
TSM inverse head & shoulders pattern On the daily time frame $TSM has a bullish inverse head and shoulders pattern forming, the neck line is right at that 119.16 level. As you can see price closed testing that 21 EMA. Volume will play a big roll here since the 21 & 50 ema are sacked on top of each other, price action shows no bears in that previous closing candle, imo I like to see candles closing within 5% of the HOD.,For me its an indicator as to how bullish the set up is.
EMA Weekly as supportVery nice long term test of its EMA 21 Weekly, which corresponds to the 0.618 retracement.
TSM - Bullish Breakout From Symmetric WedgeTSM is showing bullish growth.
Use the support trend line as a stop loss and conservative trail stop
TSM - STOCKS - 05. APR. 2021Welcome to our weekly trade setup ( TSM )!
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4 HOUR
Bullish market pressure.
DAILY
Expecting more upside price action.
WEEKLY
Market still oversold, great long entries!
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STOCKS SETUP
BUY TSM
ENTRY LEVEL @ 124.09
SL @ 112.11
TP @ Open
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
$TSM with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $TSM after a Negative over reaction following its earnings release placing the stock in drift C
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