$TSM Neutral OutlookLooking for increasing bullish volume and follow-through on break of the upper trendline of the consolidation channel. Otherwise I'm watching break of $95.50 with bearish volume to fill the gap.
Notes:
- Gap in the chart
- Declining volume on re-test of upper trendline of consolidation channel
TSM trade ideas
TSM Long from Q2 2021. TP 120Monthly
Strong uptrend.
I think for now its too much overheated.
Correction is needed.
Weekly
Wave 5th is finished.
No reasons to open long Now.
Better from end of correction. I think from Q2 2021 - will be good entry.
Daily
I expect Double TOP - people will try to get 100, but failed again.
Also weak Earning in Q1 2021 = decline. ABC correction.
Open LONG in Feb- March. from 82
SL 75
TP 120
RR 6
TSM offers another change to enterTSM still has a tight average true range compared to other stocks beaten down this past week. The 10d ATR (x2.7) suggest a stop of only 6.91% below purchase price and allows for a position size of R14.47. Buy on more strength as it passes today's high. It's already a pretty tight stop, but could further tighten the stop by using yesterday's low, but would be more likely to shake out.
Buy Point: 91.18
Stop Loss: 6.91% (84.88)
Position Size: R14.47
TSM - Elliottwave analysis - 5th wave extensionTSM - It seems extending 5th wave of impulse cycle. So stay bullish in three wave pull back each time whenever the correction will be choppy sideway. The up move seems like in 3rd wave, where subwave 1 is about to finish. Thereafter 2nd subwave correction will be proceed, which may go deeper down. so buy near 87-85 zone with stop level below 83.10 for target of new high above 96 to 100 level. This is one of the most outperformer stock to NDX or SPX.
Give thumbs up if you really like the trade idea.