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After Yesterday's Rally of 1.00% Shares Could Potentially Pullback

By Nick Russo

Taiwan Semiconductor Manufacturing (NYSE:TSM) traded in a range yesterday that spanned from a low of $36.08 to a high of $36.36. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $35.95 on volume of 1.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Taiwan Semiconductor Manufacturing on January 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.71. Since that recommendation, shares of Taiwan Semiconductor Manufacturing have risen 16.8%. We continue to monitor TSM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Taiwan Semiconductor Manufacturing has traded in a range of $17.32 to $36.90 and is now at $36.24, 109% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Keywords: rebounders taiwan semiconductor manufacturing

Ticker(s): TSM