Uptrend in Taiwan Semiconductor?
By:TradingView
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Taiwan Semiconductor has been climbing as AI investment grows, and some traders may see further upside.
The first pattern on today’s chart is the March 4 high of $361.09. TSM stalled below that level after the Iran war began, but jumped above it on April 8. The stock tested and held the same level on April 16, which could suggest old resistance has become new support.
Second, the 8-day exponential moving average (EMA) crossed above the 21-day EMA. MACD is also rising. Those patterns may be consistent with short-term bullishness.
Third, the 50-day simple moving average (SMA) has remained above the 100-day SMA. That may reflect longer-term bullishness.
The first pattern on today’s chart is the March 4 high of $361.09. TSM stalled below that level after the Iran war began, but jumped above it on April 8. The stock tested and held the same level on April 16, which could suggest old resistance has become new support.
Second, the 8-day exponential moving average (EMA) crossed above the 21-day EMA. MACD is also rising. Those patterns may be consistent with short-term bullishness.
Third, the 50-day simple moving average (SMA) has remained above the 100-day SMA. That may reflect longer-term bullishness.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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