The Long Investor

$TSM

Added 2024-07-19 19:23:10 +0000 UTC

If you have been in this group since last year you will know that since November we said that $TSM would run to $186 to complete Wave 5.

We can see that the price hit $193 above the 2 Fib and on the retest, could not hold this level and has dropped down now to the 50 Day MA, so this 2 Fib level at $186 was its limit.

Something I have been happy to see and how well our chart has played out.

If you bought in November at $92, you would have made +100% on this.

A stock that is right in the middle of the 'geo political' tension.

Price is testing the 50 Day MA now at $166, losing this level and we can assume $TSM is into its ABC correction, so I have added in its white fib support levels, the 200 Day MA at the 0.5 Fib is a confluence level right now.

Charts play out once fundamentals stay strong, some may take longer than others to get there but they always get there, the market hunts value, sometimes it's worth the wait.