Taiwan Semiconductor tries to regain footing - Analysis - 05-06-2023

Economies.com
2023-06-05 11:58AM UTC

Taiwan Semiconductor's stock (TSM) rose mildly in the intraday levels after attempting to gather positive momentum, amid the dominance of the upward correctional short-term trend, with positive pressure from the 50-day SMA, marking a tepid profit of 0.10% in the last session, or 10 cents, and settling at 98.94, countered by negative signals from the RSI after reaching overbought levels, which contained the stock's profits.

 

Therefore we expect more gains for the stock, targeting the resistance of 109.76, provided it settles above 96.36.

 

Expected trend for today: Bullish

 

 

 

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