Taiwan Semiconductor ADR may rise to 170.20 - 175.60

Our pivot point is at 143.9.

Our preference

The upside prevails as long as 143.9 is support.

Alternative scenario

Below 143.9, expect 135 and 129.7.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 141.852 and 140.6686).

Supports and resistances

181 **

175.6 *

170.2 **

164.8

151.68 (USD-last)

147.4

143.9 **

135 *

129.7 **

Number of asterisks represents the strength of support and resistance levels.