Trade Ideas: TSM

This was the most frequently appearing stock from my Trade Ideas scan. It carries a number of bullish characteristics: [1] Bullish flag [2] Support at the 20-day MA [3] Increased buying volume from $9.39 [3] Bullish piercing pattern/Bullish harami+hammer depending on your data provider. Break of $11 resistance would complete a cup-and-handle pattern. Short term target of $12.70. Longer term target of $16.00.

Taiwan Semiconductor Manufacturing Company Limited engages in the design, manufacture, sale, packaging, and testing of integrated circuits and other semiconductor devices, as well as in the manufacture of masks.





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