As of May 22, 2026, TSM (Taiwan Semiconductor Manufacturing Co. Ltd. ADR) is in a uptrend state on the weekly chart, with a confidence level of 78%. Key support is at $360 and key resistance at $420. Strong HH/HL advance to new highs; last few candles show a tight consolidation near $400–$420 with RSI elevated (~70).
Bullish continuation: consolidation resolves upward (typical post-impulse pause). Elliott view: late Wave 3/early Wave 5 behavior; Fib extension from the most recent impulse suggests room toward the next round-number/extension zone.
Deeper pullback within the uptrend: weekly rejection near $420 leads to a multi-week correction toward the rising EMA50 area; Elliott view: Wave 4-type correction (sideways-to-down) before another attempt higher.
Weekly close above $420 with follow-through (another close holding >$420).
Weekly close below $360 (loss of key swing support/near EMA20) would signal trend deterioration.
Start near prior breakout/swing support (~$360–$380), add closer to EMA50 (pink) $311 and structure support, heavy add only on a deeper mean-reversion toward EMA100 (cyan) $259 / prior base.
Trim into Fib-extension/round-number zones if price gets increasingly stretched above EMA50/EMA100 with RSI staying elevated; larger trims/exit on overshoot extremes typical of late-wave blowoff risk.
As of May 22, 2026, TSM (Taiwan Semiconductor Manufacturing Co. Ltd. ADR) is in a uptrend state on the weekly chart with 78% confidence. Strong HH/HL advance to new highs; last few candles show a tight consolidation near $400–$420 with RSI elevated (~70).
On the weekly timeframe, TSM has key support at $360 and key resistance at $420. The most likely scenario (bullish) targets $420 and $460, with a revert level at $390.
TSM (Taiwan Semiconductor Manufacturing Co. Ltd. ADR) is currently classified as uptrend on the weekly chart, with 78% confidence. Confirmation requires: Weekly close above $420 with follow-through (another close holding >$420). This would be invalidated by: Weekly close below $360 (loss of key swing support/near EMA20) would signal trend deterioration.
The most likely scenario (bullish) targets $420 and $460, with a revert level at $390. The alternative scenario (bearish) targets $360 and $315.
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