Taiwan Semiconductor Manufacturing Company Ltd. (TSM) posted strong gains in recent intraday trading, with the primary bullish trend remaining firmly in control. The stock continues to move alongside a short-term ascending trendline that supports the current upward trajectory. This bullish structure is further reinforced by ongoing dynamic support from the stock's trading above its 50-day Simple Moving Average (SMA). Meanwhile, momentum indicators continue to generate positive signals, adding further strength to the prevailing uptrend.
Therefore, our outlook remains bullish for the stock's upcoming trading sessions, as long as support at $420.00 remains intact. Under this scenario, the stock is expected to target the key psychological and resistance level at $500.00.
Today's price forecast: Bullish.
BioNTech SE (BNTX) moved lower in recent intraday trading after encountering resistance at its 50-day Simple Moving Average (SMA), which triggered renewed selling pressure and forced the stock into a pullback. The decline comes as momentum indicators have reached extremely overbought levels, to a degree that appears excessive relative to the stock's price action. Meanwhile, the primary short-term bearish trend remains firmly in control.
Accordingly, our outlook remains tilted to the downside for the stock's upcoming trading sessions as long as resistance at $97.45 remains intact. Under this scenario, the stock is expected to target the $85.00 support level.
Today's price forecast: Neutral.
(ETHUSD) declined in its last intraday trading, with the beginning of negative overlapping signals from the relative strength indicators, after offloading its oversold conditions, which intensifies the negative and dynamic pressure that is represented by its trading below EMA50, with the dominance of the main bearish trend on the short-term basis.
Brent crude oil declined at its last intraday trading on the intraday levels, affected by the continuation of the negative pressure due to its trading below EMA50, which represents a dynamic resistance that reinforces the strength and stability of the main bearish trend on the short-term basis, especially with the trading alongside main and minor supportive trend line for this path, noticing the emergence of the negative signals from the relative strength indicators, which suggest recording more losses in the upcoming near period.