SmarTrend Watching for Potential Rebound in Shares of Taiwan Semiconductor Manufacturing After 4.02% Loss
Taiwan Semiconductor Manufacturing (NYSE:TSM) traded in a range yesterday that spanned from a low of $29.52 to a high of $30.93. Yesterday, the shares fell 4.0%, which took the trading range below the 3-day low of $30.51 on volume of 9.1 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 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 28.0%. 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, shares of Taiwan Semiconductor Manufacturing have traded between a low of $17.32 and a high of $31.48 and are now at $30.07, which is 74% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.
Keywords: rebounders taiwan semiconductor manufacturing