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Taiwan Semiconductor Manufacturing Set to Possibly Pullback After Yesterday's Rally of 2.05%

By James Quinn

Taiwan Semiconductor Manufacturing (NYSE:TSM) traded in a range yesterday that spanned from a low of $24.36 to a high of $24.76. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $24.02 on volume of 3.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Taiwan Semiconductor Manufacturing have traded between a low of $17.32 and a high of $26.62 and are now at $24.43, which is 41% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Taiwan Semiconductor Manufacturing and will alert subscribers who have TSM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders taiwan semiconductor manufacturing

Ticker(s): TSM