Taiwan Semiconductor ADR may fall to 138.30 - 144.90

Our pivot point is at 179.7.

Our preference

Under pressure below 179.7.

Alternative scenario

Above 179.7, look for 191.5 and 198.3.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 178.027 and 166.6726).

Supports and resistances

198.3 **

191.5 *

179.7 **

175.1

165.77 (USD-last)

151.7

144.9 **

138.3 *

131.5 **

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