TSM is bottoming here with this wedge
With this wedge forming with TSM $Taiwan Semiconductor Manufacturing(TSM)$ and this trendline as support I think this could be a monster trade. I'm targeting 135 for Wave 3, 115 for Wave 4, and then around 160 for Wave 5.
Some people think this could fill the gap but I don't think so. If you look at TSM and Tesla $Tesla Motors(TSLA)$ they look very similar and Tesla didn't fill the gap and stopped halfway just like TSM will do. If it does fill the gap then it would break to the downside of the trendline and then it wouldn't be good.
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