Chart of the Day: TSM Technicals
Description
Ben Watson dials up the short-term chart for TSMC (TSM) and shows technical patterns that could indicate "frothiness" with big up and down swings. On the 5-day timeframe, he points to $307 as a possible resistance point and $296 as a level of support. He does say its hard to deny the upward trend on this chart, pointing to the symmetrical jumps since the company's July earnings event. This week he says there's a "bullish earmuffs" pattern developing for TSM shares.
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