Is it Taiwan Semiconductor Manufacturing Co's turn now?
NVIDIA vs TSM
The Chart for
TSM
is lining up almost identically to NVIDIA prior to its major move higher.
- MACD Crossing now
- OBV Breaking upwards
- RSI 56 level about to be breached
Like
NVDA
, TSM could rise by 39% to its ATH & appears to be following the
NVDA
set up.
NVIDIA is the 6th largest company in the world by market cap at present and Taiwan Semiconductor Manufacturing Co. is the 10th largest.
It will be interesting to see if the TSM chart will follow the pattern of NVIDIA's. This could be an opportunity for a trade. Please not that the below chart is a monthly chart and thus the trade would require waiting 3 - 6 months to play out. An ideal entry would have been $82 and at present this would place a stop at $90. With ATH at $145 this gives you a Risk Reward Ratio of 3:1 from the current value of $103. Not the greatest or worst RR but the set up just looks so similar its hard not to have a stab
The Chart for
TSM
is lining up almost identically to NVIDIA prior to its major move higher. - MACD Crossing now
- OBV Breaking upwards
- RSI 56 level about to be breached
Like
NVDA
, TSM could rise by 39% to its ATH & appears to be following the
NVDA
set up. NVIDIA is the 6th largest company in the world by market cap at present and Taiwan Semiconductor Manufacturing Co. is the 10th largest.
It will be interesting to see if the TSM chart will follow the pattern of NVIDIA's. This could be an opportunity for a trade. Please not that the below chart is a monthly chart and thus the trade would require waiting 3 - 6 months to play out. An ideal entry would have been $82 and at present this would place a stop at $90. With ATH at $145 this gives you a Risk Reward Ratio of 3:1 from the current value of $103. Not the greatest or worst RR but the set up just looks so similar its hard not to have a stab