Taiwan Semiconductor Stock Seasonal Play On Strong Money Flow

Taiwan Semiconductor stock looks like a good long entry on playing the seasonal rally in semiconductor stocks. Taiwan Semiconductor is the world’s largest producer of made-to-order microchips.

Taiwan Semiconductor reported that consolidated sales for the quarter rose 17.89 percent from a quarter earlier to NT$252.11 billion (US$8.26 billion), beating the 16 percent sequential increase the company projected in July. You can read more about TSM’s earnings report here.

Taiwan Semiconductor Stock

Taiwan Semiconductor Stock

In late September there were several pocket pivot signals (blue dots) as traders began moving into the seasonal trade. The Twiggs Money Flow shows strong, long-term accumulation.

I would like to see Taiwan Semiconductor stock retrace a little before taking a long entry. There is a resistance zone just above the current price starting at $38.47. Right above this resistance zone may be a good entry point. There is a support zone below the current price at $37.77, a stop order could be placed below this zone.

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Lance Jepsen

For ethical purposes, I try not to hold any position in any stock I profile on GuerillaStockTrading.com unless specifically stated in the article. Owner of GuerillaStockTrading.com. Seasoned entrepreneur, investor, and writer. I love God, family, country, stock trading, economics, and helping people learn how to trade.
Follow me

Author: Lance Jepsen

For ethical purposes, I try not to hold any position in any stock I profile on GuerillaStockTrading.com unless specifically stated in the article. Owner of GuerillaStockTrading.com. Seasoned entrepreneur, investor, and writer. I love God, family, country, stock trading, economics, and helping people learn how to trade.

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