Tech went through a nasty correction. I believe the correction may be over most tech stocks are trending to oversold.
The case with TSM is they have corrected back to key levels and are oversold on the RSI. And SQZMOM Bear and MACD both show a trend to positive upside.
On Friday they closed over $115.81 and that's a good sign to bounce back to the next resistances $120.87 $124.96 $129.05 $134.87 $142.28
Worst case scenario it falls back under the most recent support at $115.81 then tests $107.63 then $103.38 after $103.38 is danger zone.
Earnings Call is April 15th and i expect them to beat expectations and they have a history of performing true to earnings. So could have a sharp move north if good earnings are announced.
The case with TSM is they have corrected back to key levels and are oversold on the RSI. And SQZMOM Bear and MACD both show a trend to positive upside.
On Friday they closed over $115.81 and that's a good sign to bounce back to the next resistances $120.87 $124.96 $129.05 $134.87 $142.28
Worst case scenario it falls back under the most recent support at $115.81 then tests $107.63 then $103.38 after $103.38 is danger zone.
Earnings Call is April 15th and i expect them to beat expectations and they have a history of performing true to earnings. So could have a sharp move north if good earnings are announced.