Taiwan Semiconductor Mfg(TSM) – [Watching For A Clean Break Out]
Chart source: Tradingview.com 13th july 2021
Lets take a look at Taiwan Semiconductor Mfg(TSM) listing in the US. Taiwan Semiconductor Mfg is a Taiwanese multinational semiconductor contract manufacturing and design company. It is the world’s most valuable semiconductor company and one of Taiwan’s largest companies. TSMC was the world’s first dedicated semiconductor foundry and has long been the leading company in its field.
Most of the leading fabless semiconductor companies such as AMD, Apple, Broadcom, Nvidia and Qualcomm are customers of TSMC.
Lets take a look at the chart using technical analysis and see what are the resistance and support points. A good clean break of US122.63 and staying above that might see it around $127.22 and $132 at the gap resistance.
The support is the uptrend line first and the $115 horizontal line.
Any thoughts on TSM?