$Taiwan Semiconductor Manufacturing(TSM)$
Zone: $421.40 to $427.34
Invalidation: close under $410.22
Objectives: $445, then $475
The math: up 4.9% to the first objective and 11.9% to the second, against 3.3% risk on the invalidation, better than 3 to 1 to the second.
Picture the chipmaker that builds the brains inside nearly every device you own, knocked from 445 dollars down to 410 dollars in ten days and then quietly climbing back. Taiwan Semiconductor closed Monday at 424 dollars and 37 cents, up for a second straight session after holding that 410 dollar floor, and the climb back toward 445 dollars first and 475 dollars next is simply the stock retracing the fall it just made, while a close under 410 dollars and 22 cents says the bounce has failed.
P.S. Watch 428 dollars and 85 cents, the high from Monday, because a close over it shows buyers pressing on again.
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