Technical Analysis Of Taiwan Semiconductor Manufacturing Company Limited

By Staff of AAATrade.com

Nov 16, 2022 at 9:50 AM EST

Looking at the TSM ‘s chart, we can see that yesterday it opened higher with a gap of 10% and continue its uptrend during the trading session until the price of around $82.95 but closed lower, at around $80.50.

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Photo by Austin Distel on Unsplash

Today’s instrument is the Taiwan Semiconductor Manufacturing Company Limited traded in the NYSE exchange under the ticker TSM and it is one of the recent additions to Warren Buffet’s investment portfolio.

Looking at the TSM ‘s chart, we can see that yesterday it opened higher with a gap of 10% and continue its uptrend during the trading session until the price of around $82.95 but closed lower, at around $80.50. This action was the effect of the announcement that Buffet invested in that stock showing trust in the semiconductor industry and especially in TSM.

Today, if it manages to hold above the support level of around $80, then we could see it rising again to re-test its resistance level at around $83. However, if failed to maintain its price above that support level, then we should see it falling in the range of $73-75.

(Click on image to enlarge)

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