TSM/N trade ideas
TAIWAN SEMICONDUCTOR MANUFACTURING Chart Hey people, TAIWAN SEMICONDUCTOR MANUFACTURING is in a fake bearish trend with high negotiating sell volume and a large hammer candle shape. By zooming in on the TIMEFRAME M1 we see a kind of hammer candle with a large volume of past purchases. It came to bounce on the lowest of the bollinger to make its swallow to rise on the diffferents point of the bollinger. After the base a test on VWAP will be in progress in order to interfere with the last resistance which is before the panic. It is very plausible to breakout the price with the return of the moment due to the operators leaving at the beginning of their refusals. For a possible test and breakout of the bullish channel for arrival then symbolic figure of 128.00.
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TSM Wave 3TSM showing signs of strength with high relative volume at opening today with a large bullish engulfing candle. Target for Wave 3 has confluence at the 200% extension and the mid-line of the channel. The 21 EMA (orange line) is catching up to price on the hourly. The MACD is crossed on the daily timeframe as well. Semiconductor sector looks to continue bullish momentum as big names like NVDA and AMD push higher.
Bullish Pennant FormationBroke out of resistance on 24th December. Price came back to retest the new support 2 days later and rebounded.
Volume was high during flagpole formation, and decreased while forming triangle, showing some accumulation.
20EMA coming up to support the price before breakout of pennant happened.
Flagpole length: 16.75
TP: 120 based on length of flagpole
TSM Long 12/23/2020TSM is a leading chip maker for some of the largest tech companies on the planet, including Apple, Sony, Huawei, Qualcomm, and others.
It is pushing new all time highs & I bought in anticipation of a breakout to those new highs. I got long half of a position @ $104.14 with a stop @ $101.75. I didn't feel comfortable putting on a full sized position going into year-end, but if the trade continues to work for me, I am looking to add. With an initial stop loss of ~2.3%, I am looking for at least a 5% move from my initial entry price, which is roughly the $109.50 level.
$TSM - slow and steadyIn call options with goal to evaluate how it does at $108
If I hold past $108, next level is $113.
TSM - Elliottwave analysis -Buy for 5th wave up after correctionTSM - It is in 4th wave correction and expected to go down in Y wave near 101 level to finish the 4th wave. Buy within that zone for 5th wave up for target above 110-114.
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Rising WedgeI think it may go down a little bit here for short term and then continue the uptrend. Extremely Bullish for long term!!
$TSM - over $105.50I think we found the bag holders at $105.50 the first time, so next approach, if we can crack it and remain above it, it's looking like it will continue north
broke out of its old trend channel and now that it broke out of that old channel its looking to create a new one, hmm imo we can test 120 by early 2021. nice chart! goodluck:)
$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 - 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
