Taiwan Semiconductor ADR may fall to 131.30 - 139.10

Our pivot point is at 177.1.

Our preference

The downside prevails as long as 177.1 is resistance.

Alternative scenario

The upside breakout of 177.1 would call for 190.3 and 198.3.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 174.1085 and 168.8334).

Supports and resistances

198.3 **

190.3 *

177.1 **

171.8

165.8 (USD-last)

146.7

139.1 **

131.3 *

123.7 **

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