Taiwan Semiconductor ADR may fall to 117.00 - 124.70

Our pivot point stands at 168.6.

Our preference

The downside prevails as long as 168.6 is resistance.

Alternative scenario

Above 168.6, look for 182.3 and 190.5.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 167.796 and 168.6518).

Supports and resistances

190.5 **

182.3 *

168.6 **

163.1

155.39 (USD-last)

132.4

124.7 **

117 *

109.3 **

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