Taiwan Semiconductor ADR may rise to 210.30 - 217.90

Our pivot point is at 174.3.

Our preference

The upside prevails as long as 174.3 is support.

Alternative scenario

The downside breakout of 174.3 would call for 161.5 and 154.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 177.8025 and 170.553).

Supports and resistances

225.8 **

217.9 *

210.3 **

202.6

185.78 (USD-last)

179.4

174.3 **

161.5 *

154 **

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