[Day 9 – Observing TSMC Near Trendline Support] #MyInvestmentDiary
Observation: Today I am monitoring Taiwan Semiconductor Manufacturing Company (TSMC) before the US market opens. The current price is around 340, and the stock appears to be approaching an ascending trendline on the daily chart.
Insights: The overall trend remains bullish with higher highs and higher lows. However, the recent pullback suggests short-term consolidation. This trendline could act as a key support level. If price holds and rebounds, it may indicate continuation of the uptrend. A breakdown below this level could signal further downside in the short term.
Position: No position. I will wait for confirmation after market open before making any entry decision.
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