Taiwan Semiconductor ADR may rise to 215.50 - 222.90

Our pivot point is at 173.9.

Our preference

The upside prevails as long as 173.9 is support.

Alternative scenario

Below 173.9, expect 162.1 and 155.2.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 177.19 and 162.0038).

Supports and resistances

230.2 **

222.9 *

215.5 **

208.2

184.5 (USD-last)

178.4

173.9 **

162.1 *

155.2 **

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