Taiwan Semiconductor ADR may rise to 241.30 - 250.90

190.1 is our pivot point.

Our preference

The upside prevails as long as 190.1 is support.

Alternative scenario

Below 190.1, expect 174.7 and 165.6.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 183.3545 and 174.494). Finally, Taiwan Semiconductor ADR has crossed above its upper daily Bollinger band (199.26).

Supports and resistances

260.2 **

250.9 *

241.3 **

231.7

205.84 (USD-last)

195.9

190.1 **

174.7 *

165.6 **

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