Taiwan Semiconductor ADR may rise to 204.50 - 211.00

Our pivot point stands at 173.9.

Our preference

The upside prevails as long as 173.9 is support.

Alternative scenario

Below 173.9, expect 163.2 and 156.8.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 172.8715 and 157.9968).

Supports and resistances

217.7 **

211 *

204.5 **

198

183.99 (USD-last)

178.1

173.9 **

163.2 *

156.8 **

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