Taiwan Semiconductor Stock Forecast

Buy candidate since Dec 02, 2024

The Taiwan Semiconductor stock price gained 5.30% on the last trading day (Monday, 2nd Dec 2024), rising from $184.66 to $194.44. During the last trading day the stock fluctuated 3.36% from a day low at $188.94 to a day high of $195.29. The price has been going up and down for this period, and there has been a 4.52% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 14 million shares were bought and sold for approximately $2.81 billion.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.30% during the next 3 months and, with a 90% probability hold a price between $209.91 and $253.91 at the end of this 3-month period.

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TSM Signals & Forecast

The Taiwan Semiconductor stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $187.18 and $192.90. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, October 17, 2024, and so far it has fallen -5.54%. 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).

Support, Risk & Stop-loss for Taiwan Semiconductor stock

Taiwan Semiconductor finds support from accumulated volume at $193.34 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 $6.35 between high and low, or 3.36%. For the last week, the stock has had daily average volatility of 2.69%.

Our recommended stop-loss: $184.30 (-5.22%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 31 days ago.)

Trading Expectations (TSM) For The Upcoming Trading Day Of Tuesday 3rd

For the upcoming trading day on Tuesday, 3rd we expect Taiwan Semiconductor Manufacturing Company Ltd to open at $192.89, and during the day (based on 14 day Average True Range), to move between $188.50 and $200.38, which gives a possible trading interval of +/-$5.94 (+/-3.05%) up or down from last closing price. If Taiwan Semiconductor Manufacturing Company Ltd takes out the full calculated possible swing range there will be an estimated 6.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $194.68 (0.12%) than the support at $193.34 (0.57%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Taiwan Semiconductor Manufacturing Company Ltd stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Taiwan Semiconductor stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.586 Buy Candidate Upgraded

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Predicted Fair Opening Price

Predicted fair opening price on December 3, 2024 - $192.89 ( 0.798%).