$TSM Taiwan Semiconductor Manufacturing Company Ltd Stock Robo Analyst July 24 2020 #TSM

Taiwan Semiconductor Manufacturing Company Ltd (TSM) “On a long-term technical basis, the stock (TSM) is trading above its 200-day moving average which generally implies it is in a positive trend.

The stock has support at 58.14 and 54.69. If the stock breaks down through support at 58.14 then it will probably continue lower to 54.69. The stock will meet resistance at 69.25 and 81.62. If the stock breaks up through resistance at 69.25 then it will probably continue higher to 81.62. The 200-day moving average is at 54.50. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (90.53), and turning down, which suggests a pause or possible pullback, especially if near resistance. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”