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Look for Shares of Taiwan Semiconductor Manufacturing to Potentially Rebound after Yesterday's 1.62% Sell Off

By Amy Schwartz

Taiwan Semiconductor Manufacturing (NYSE:TSM) traded in a range yesterday that spanned from a low of $35.01 to a high of $35.61. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $35.20 on volume of 6.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 16.6%. We continue to monitor TSM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Taiwan Semiconductor Manufacturing share prices have been bracketed by a low of $17.32 and a high of $36.90 and are now at $35.29, 104% 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.

Keywords: rebounders taiwan semiconductor manufacturing

Ticker(s): TSM