Taiwan Semiconductor Manufacturing Company Ltd.NYSE
Description
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TSM: Currently in a falling wedge pattern, demand zone at 103-109 has been key support for this name. Break above 114 with good volume/momentum will see this one move into the upper Fib extensions in the supply zone. Targets around 120-124 within the next 1-2 weeks. We are bullish on Semiconductors tactically with this inflationary climate. Setup is invalidated if it breaks/consolidates below 107.