Taiwan Semiconductor readies to tackle current resistance - Analysis - 21-11-2023

Taiwan Semiconductor Manufacturing Company's stock (TSM) rose in the intraday levels, while preparing to tackle the secondary resistance of 101.75, amid the dominance of the main upward trend in the medium term, as the stock is buoyed by piercing the downward correctional trend line previously in the short term, with positive pressure from the 50-day SMA.

Therefore we expect more gains for the stock, targeting the pivotal resistance of 110.70, provided the resistance of 101.75 was breached. 

Expected trend for today: Bullish