Taiwan Semiconductor ADR may rise to 170.20 - 175.50

Our pivot point is at 144.9.

Our preference

The upside prevails as long as 144.9 is support.

Alternative scenario

Below 144.9, expect 135.9 and 130.8.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 150.12 and 143.2112).

Supports and resistances

180.9 **

175.5 *

170.2 **

164.8

152.96 (USD-last)

148.4

144.9 **

135.9 *

130.8 **

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