Get started
S_dot_Trades

TSM looking to complete Inverted Head and Sholders

Long
Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)  
S_dot_Trades  
NYSE:TSM   Taiwan Semiconductor Manufacturing Company Ltd.
Head and Shoulders Support and Resistance Trend Lines TSM support invertedheadandshoulders Inverse Head and Shoulders trend trendbreak CALL options
3
0
headandshoulders supportandresistance trendline tsm support invertedheadandshoulders inverseheadandshoulders trend trendbreak call options
TSM Looks to be about to complete an Inverted Head and Shoulders pattern on the 4hr time frame. A break of the trend line and hold should be a good entry. A break of 123.50 would be the super safe entry. Neckline to head is roughly 13pts, so the expected move from the neck to completion should be the same which would put our High End Price Target at roughly 134(right near a resistance) with 126.50 being our intial price target. Currently a safe contract would be a June 18 2021 Call, strike dependent on your capital and risk tolerance.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.