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Taiwan Semiconductor Manufacturing Set to Possibly Pullback After Yesterday's Rally of 2.02%

By James Quinn

Taiwan Semiconductor Manufacturing (NYSE:TSM) traded in a range yesterday that spanned from a low of $24.94 to a high of $25.24. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $25.01 on volume of 2.9 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 is monitoring the recent change of momentum in Taiwan Semiconductor Manufacturing. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Taiwan Semiconductor Manufacturing in search of a potential trend change.

In the past 52 weeks, Taiwan Semiconductor Manufacturing share prices have been bracketed by a low of $17.32 and a high of $26.62 and are now at $25.21, 46% 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

Ticker(s): TSM