Stronger technical forecast for Taiwan Semiconductor stock price after Thursday trading.

The Taiwan Semiconductor stock price fell by -4.86% on the last day (Thursday, 18th Apr 2024) from $139.03 to $132.27. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 3.71% from a day low at $130.30 to a day high of $135.13. The price has been going up and down for this period, and there has been a -5.29% loss for the last 2 weeks. Volume has increased on the last day by 22 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 39 million shares were bought and sold for approximately $5.15 billion.

On Apr 03, 2024, it was reported that Bank of America Securities gave TSM a "Buy" grade with a "hold" action.

Given the current short-term trend, the stock is expected to rise 22.36% during the next 3 months and, with a 90% probability hold a price between $161.84 and $199.62 at the end of this 3-month period.

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Taiwan Semiconductor stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $141.03 and $139.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -11.35%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Taiwan Semiconductor finds support from accumulated volume at $129.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.83 (3.71%) between high and low. For the last week, the stock has had daily average volatility of 3.42%.

The Taiwan Semiconductor stock holds several negative signals and despite the positive trend, we believe Taiwan Semiconductor will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.