In today’s briefing:
- TSMC (ADR) Bull Wedge Breakout for New Highs
TSMC (ADR) Bull Wedge Breakout for New Highs
- TSMC (ADR) upside gap out of the bull wedge shows conviction to test the 2021 old high zone. Wedge breakouts have a high conviction rate.
- Price and RSI pattern breakouts show fresh buy support in the gap zone. Buy volumes are constructive as is backswing support.
- Near term dip risk stems from a stall in the US tech sector (RSI stall zone). Intermediate cycle is compelling.
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