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The Taiwan Semiconductor stock price gained 0.391% on the last trading day (Thursday, 18th Jul 2024), rising from $171.20 to $171.87. During the last trading day the stock fluctuated 8.62% from a day low at $164.51 to a day high of $178.69. The price has risen in 6 of the last 10 days but is still down by -4.99% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 51 million shares were bought and sold for approximately $8.73 billion.
On Jul 11, 2024, it was reported that Susquehanna gave TSM a "Positive" grade with a "hold" action.
Given the current short-term trend, the stock is expected to rise 39.59% during the next 3 months and, with a 90% probability hold a price between $239.91 and $274.33 at the end of this 3-month period.
Volume is rising along with the price. This is considered to be a good technical signal. 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 $182.46 and $172.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, July 10, 2024, and so far it has fallen -10.04%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Taiwan Semiconductor finds support from accumulated volume at $171.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $14.18 between high and low, or 8.62%. For the last week, the stock has had daily average volatility of 4.41%.
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.
Check full Taiwan Semiconductor forecast and analysis here.