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Taiwan Semiconductor Manufacturing Set to Possibly Rebound After Yesterday's Selloff of 1.38%

By Amy Schwartz

Taiwan Semiconductor Manufacturing (NYSE:TSM) traded in a range yesterday that spanned from a low of $35.10 to a high of $35.32. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $35.33 on volume of 3.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Taiwan Semiconductor Manufacturing share prices have been bracketed by a low of $17.32 and a high of $35.81 and are now at $35.30, 104% 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 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 16.5%. 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