Taiwan Semiconductor price seeks a bottom to boost it higher - 28-03-2024

Taiwan Semiconductor Stock Analysis

Taiwan Semiconductor’s stock price (TSM) fell in the intraday levels, while seeking a bottom to gather fresh momentum and rise anew, amid the dominance of the main upward trend in the short term alongside the trend line, with positive pressure from the 50-day SMA.

Therefore we expect the stock to return higher, targeting the important resistance of 158.40, provided the support of 133.73 holds on.

Trend Forecast

• Likely Bullish: Considering the positive pressure from the 50-day SMA and the main upward trend, we anticipate a resurgence in Taiwan Semiconductor's stock.

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