TSM (Taiwan Semiconductor) Should Remain Supported In Pullback To Resume Rally

Taiwan Semiconductor Manufacturing Company Limited., (TSM)  manufactures, packages, tests & sells integrated circuits & other semiconductor devices internationally. The company was headquartered in Taiwan, comes under Technology – Semiconductors sector & trades as “TSM” at NYSE.

TSM favors upside in ((3)) of I of (III) within the sequence started from September-2023 low. It expects short term upside & remain supported in 3, 7 or 11 swings pullback to resume rally.

TSM - Elliott Wave Latest Daily View: 

It placed ((II)) at $59.43 low in November-2022 low & (II) of ((III)) at $84.02 low in September-2023. Above there, it favors upside in ((3)) of I of (III). It placed ((1)) of I at $158.40 high & ((2)) at $125.78 low as around 0.5 Fibonacci retracement of ((2)). It placed (1) at $104.76 high, (2) at $98.80 low as flat, (3) at $135.17 high & (4) at $122.91 low & (5) as ((1)) at $158.40 high. Above ((2)) low, it placed (1) of ((3)) at $160.78 high, (2) at $147.81 low, (3) at $184.86 high & (4) at $167.12 low.

Above $167.12 low, it expects short term upside to finish (5) as ((3)) before it should pullback later in ((4)). It expects two more highs above $193.47 high to finish ((3)) before correcting in ((4)), while dips remain above $182.75 & more importantly above $167.12 low. Alternatively, if it breaks below $167.12 low, it can be ((4)) correction, while placed ((3)) at last high. In either the case, we like to buy the pullback in ((4)) or II in 3, 7 or 11 swings at extreme areas, when reached & do not like selling it in any pullback.

Source: https://elliottwave-forecast.com/stock-market/tsm-remain-supported-resume-rally/