themarketzone

Pre-Earnings View - Inside weekly triangle

NASDAQ:TSEM   TOWER SEMICONDUCTOR LTD
$TSEM is going to report today and it is sitting on a minor support zone - 12$-13$
As you can see, $TSEM is still in a daily uptrend (see green uptrend line) and as long as the price remains in this trend, $TSEM could be heading towards another attempt to breakout of its Weekly Triangle pattern .

In case that the trend line will fail following $TSEM earnings, the stock could be heading towards the bottom of the Triangle, or, at least towards the next support zone , near 10$ with the 200 weekly SMA line

I'm neutral towards earnings.
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