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Bullish Moving Average Cross by Taiwan Semiconductor Manufacturing (TSM)

By Shiri Gupta

Taiwan Semiconductor Manufacturing (NYSE:TSM) shares have crossed bullishly above their 10-day moving average of $25.96 on a volume of 2.2 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Taiwan Semiconductor Manufacturing have traded between a low of $17.32 and a high of $26.62 and are now at $26.42, which is 53% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Taiwan Semiconductor Manufacturing on May 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.49. Since that recommendation, shares of Taiwan Semiconductor Manufacturing have risen 5.6%. We continue to monitor TSM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses taiwan semiconductor manufacturing

Ticker(s): TSM