$TSM Finally breaking out - watch for confirmTSM has finally broken out of the channel. Let's see if we get continuation tomorrow. This one has been range bound for almost a year, leads me to believe there may be more juice this week for a climb higher.
High risk/reward idea is to trade a weekly 130C here with almost 20K contracts being traded today.
TSM trade ideas
TSM breakout TSM could be breaking out on sale numbers coming out over the weekend.
I've been watching this stock for awhile and it has been the lagger of the semis trading under resistance (Whiteline) for awhile.
Currently premarket its trading above that white line but under fibonacci resistance at 125 or. .5
I would like to see a close above 125 for breakout conformation. If we do close above there we're headed back to ATH
RectangleHorizontal trading channel. Basically ranging between upper resistance trendline and lower trendline of support.
You can subtract the upper trendline from the bottom trendline, then divide by 2 to get mid rectangle MR. This level can serve as a stop either way you go with this, up or down
No recommendation
5 touches so far/targets from an upper trendline break out listed above triangle and a break down targets listed below rectangle.
TSKTSM MA 50 is above MA 200
it means stock price is in a long term uptrend
also price is above 21 MA and 8 MA, which means is in short period is uptrend too.
the earning call is coming
based on chip shprtage around the world this company is the biggest chipmaker which make qualcom, amd and apple chips in its factory so i can guess the earning well ne incredible.
Resistance is 124 but all MA can push the price higher and break that level after 1 year, good earning can fuel the price to its previous all time high around 142 and %10 above to keep the stock price higher than previous ATH and moving forward.
$TSM - Weekly Swing Candidate Revisited$TSM is slowly approaching the top of it's channel as I touched upon a while back!
A break above can take us to 128, while a rejection likely walks us back down to the bottom of the channel around 108.
I'll look to long this name above the channel with 12/31 130Cs, or go short with 1/22 110Ps depending on where price action leads us.
approaching the rejection zone, be careful if long 🚨TSM is getting very close to extreme resistance on the chart and rsi! we have many rejections off these areas in our recent history.
chances are we see history repeat and see a leg down to extreme support, my target is 107-110.
like and follow for more 💘
#TSM making successive higher lows.. #bullishChart looking good, 3 successive higher lows and now back above the 200dma. Needs a close > $125 to break out the channel we have been stuck in for the most part of 2021. Demand for chips and related products manufactured by TSM should continue to stay elevated
TSM - STOCKS - 17. NOV. 2021Welcome to our Weekly V2-Trade Setup ( TSM ) !
-
4 HOUR
Sideways market structure..
DAILY
Looking for a breakout.
WEEKLY
Overall bullish waving market structure..
-
STOCK SETUP
BUY TSM
ENTRY LEVEL @ 118.40
SL @ 114-76
TP @ Open
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
TSM - Nearing a breakup, finally?TSM has been stuck in a wide almost parallel wedge since April. Last Friday it closed right at the upper wedge resistence again.
Are we going to see a breakup soon or will it just be another round of retracement after hitting into the wedge top? I'm feeling more bullish about it thsi time owing to the series of bullish pennants that had been forming since hitting the lower support of the wedge on 6th Oct. Bullish pennants are usually part of a sustainable trend, let's see if it is true this time.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade