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SmarTrend Watching for Potential Rebound in Shares of Taiwan Semiconductor Manufacturing After 1.33% Loss

By Amy Schwartz

Taiwan Semiconductor Manufacturing (NYSE:TSM) traded in a range yesterday that spanned from a low of $34.88 to a high of $35.39. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $35.08 on volume of 6.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Taiwan Semiconductor Manufacturing has traded in a range of $17.32 to $35.80 and is now at $34.99, 102% above that low. Over the last five market days, 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 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 15.2%. We continue to monitor TSM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders taiwan semiconductor manufacturing

Ticker(s): TSM