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- 1 TSM stock has slipped below 20, 50, 100, and 200-day daily moving averages.
- 2 Taiwan Semiconductor stock price dropped below an interesting falling pattern over the daily time frame chart.
TSM stock price has been facing sellers’ dominance recently. Taiwan Semiconductor stock is heading downward by making lower low structures that are trading below the key moving averages. The stock price is down by -3.13 % in a week and more than 14% in the last three months showing sellers’ presence in stock.
At press time, TSM stock was trading at $90.48 with an intraday minor gain of 0.98% breaking below the 200-day EMA and showing bearishness on the charts. Moreover, the intraday trading is 8.243 Million, and the average 10-day volume is 8.109 Million. The market cap of Taiwan Semiconductor stock is 434.807 Billion.
TSM stock price has seen a slight decrease of about -3.13% over the past week and a loss of -3.23% over the past month. However, Taiwan Semiconductor stock has not performed well over the long term, as it fell by about -14.67 % over the past three months and gave a positive return of about 5.27% over the past six months. The stock’s performance throughout the year has also been decent with a year-to-date return of about 19.29%.
The company’s Q1 23 earnings show that TSM had generated a revenue of $416.73 Billion and a net income of $6.81 Billion, resulting in a profit margin of 40.69%. The net income and profit margin have slightly declined as compared to the previous quarter. In Q2 23, the company reported $15.65 Billion and net income of $5.92 Billion with a profit margin of 37.81%.
Will Heavily Shorted TSM Stock Price Remain Bearish?
TSM stock price has shown sellers’ strength, and profit booking in the stock was noted on the short-term charts. Moreover, the price traded below the key EMAs which shows further weakness in the stock. The RSI curve is near the oversold region at 39, and a negative outlook was noted, indicating bearishness in the stock. The MACD indicator also persisted to form red bars and a bearish crossover was noted which signals corrective moves.
TSM Stock: Weekly-Time Horizon Analysis
TSM stock has shown sellers’ dominance on the weekly charts. Moreover, the price traded below the key EMAs, which shows further weakness in the stock. The RSI curve is near the oversold region at 46, and a negative outlook was noted, indicating bearishness in the stock. The MACD indicator also persisted to form red bars and a bearish crossover was noted, which signals corrective moves.
Summary
TSM stock price is trading below the key moving averages showing bearish dominance on the daily time frame. The technical indicators show sellers’ dominance on both daily and weekly charts. The price action also reflects a bearish perspective.
Technical Levels
- Support Levels: $82.46 and $88.41
- Resistance Levels: $107.45 and $110.58
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
