$TSM - wave IV bottom appears in - on to ATH
TSM appears to have put in a wave IV bottom, and now has broken above the ATH AVWAP and downtrend resistance w/ volume confirmation.
It appears we are in an impulse to the upside that ultimately will lead to a wave V completing in the ballpark of 150-160 range. I expect to see a short term PT of 130 when this minor impulse completes, and then we should see at least 3 waves to the downside which will be a BTD situation for the wave 3 of wave V.
Be mindful that my "path" is what would be seen in the ideal world, and that a lot of times retracements can be deeper or more shallow then depicted. Always do your own DD, but imo given the fire behind semis right now, I think dips on this name are a buy
It appears we are in an impulse to the upside that ultimately will lead to a wave V completing in the ballpark of 150-160 range. I expect to see a short term PT of 130 when this minor impulse completes, and then we should see at least 3 waves to the downside which will be a BTD situation for the wave 3 of wave V.
Be mindful that my "path" is what would be seen in the ideal world, and that a lot of times retracements can be deeper or more shallow then depicted. Always do your own DD, but imo given the fire behind semis right now, I think dips on this name are a buy