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Taiwan Semiconductor Manufacturing Set to Possibly Rebound After Yesterday's Selloff of 1.29%

By David Diaz

Taiwan Semiconductor Manufacturing (NYSE:TSM) traded in a range yesterday that spanned from a low of $22.75 to a high of $23.29. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $23.13 on volume of 4.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Taiwan Semiconductor Manufacturing share prices have moved between a 52-week high of $26.62 and a 52-week low of $17.32 and are now trading 32% above that low price at $22.89 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Keywords: rebounders taiwan semiconductor manufacturing

Ticker(s): TSM