Get started
the_new_tate

TSM is bottoming here with this wedge

Long
Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM)  
the_new_tate Updated   
NYSE:TSM   Taiwan Semiconductor Manufacturing Company Ltd.
Elliott Wave Wedge Fibonacci tradingideas TSM chartanalysis elliotwaveanalysis wedgepatterns
4
0
elliottwaves wedgepattern fibonacci tradingideas tsm chartanalysis elliotwaveanalysis wedgepatterns
With this wedge forming with TSM and this trendline as support I think this could be a monster trade. I'm targeting 135 for Wave 3, 115 for Wave 4, and then around 160 for Wave 5.

Some people think this could fill the gap but I don't think so. If you look at TSM and Tesla they look very similar and Tesla didn't fill the gap and stopped halfway just like TSM will do. If it does fill the gap then it would break to the downside of the trendline and then it wouldn't be good.

Comment:
Broke to the downside sadly so we will see gap fill.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.