CFD Trading – Sell Taiwan Semiconductor Mfg (TSM.NYS) @ $121.10. Stop @ $128.90 and Target @ $106.90

Taiwan Semiconductor Manufacturing Co Ltd Stock Code TSM.NYS


Price closed below the cloud in the previous trading session, changing the chart outlook to bearish. A previous rally to move above the cloud was capped by the Fibonacci 50% correction point and the Base line. Conversion and Base lines had a bearish crossover, hinting of a bearish price trend. Lagging Span is below price of 26 days ago but is above the cloud. MACD remains bearish with both lines below the zero line. MACD is hinting at a bearish price trend. We think price is likely to move lower to the Fibonacci 123% price projection target at $106.84 in the next 2-3 weeks.


$121.10              Sell

$106.90              Price Target

$128.90              Risk Management Stop

3 weeks              Trade Duration

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