Volatility Contraction Sets Up TSM Move Near $302.84
NeutralTaiwan Semiconductor Manufacturing Co Ltd (TSM) closed up 1.36% at $302.84 on December 29.
Technical indicators paint a bullish picture:
Moving Averages
Price trades above the 9-day EMA ($294.93) with a bullish stack. The 21-day EMA at $293.34 provides support.
Momentum
RSI at 61.8 is in neutral territory but trending higher. MACD is bullish (1.40 vs signal 0.53).
Volatility
Stock has been in a TTM Squeeze for 7 days, indicating compressed volatility and potential for a significant move.