Taiwan Semiconductor (TSM) – [ Keeping A Lookout, Technical Outlook]

Chart source: Poems2.0.com

Taiwan Semiconductor (TSM) is currently in a large sideways movement. We can see that the upper resistance is around $125.6 and the lower support is at $107.9. The middle support band is around $116.50. TSM had a big push last night with a green candle with volume. It is still in consolidation and has not broken out of the band. We need a clean break of the resistance of $125.61 then we might see it move higher to $131 and even $139. Failing to break might see it move lower to the middle support before it tries to attempt to breakout.

Take a look at Disney and see if you spot anything similar?

Downside support at $107. If this breaks TSM might fall to even $95 area. We’re not hoping for this situation.

Keeping a close lookout for the break.

Yours

Humbly

Kelwin&Roy

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