Taiwan Semiconductor ADR may fall to 125.30 - 132.00

172.9 is our pivot point.

Our preference

The downside prevails as long as 172.9 is resistance.

Alternative scenario

The upside breakout of 172.9 would call for 185 and 192.2.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 176.6675 and 168.2164).

Supports and resistances

192.2 **

185 *

172.9 **

168.1

160.28 (USD-last)

138.7

132 **

125.3 *

118.6 **

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