Nice 5 dollar Per Share - TSM Post Earnings In Pre-Market

This should give confidence to go for a trade today (18 Jan).

With TSM in middle BB 20, and it is trending toward the upper range, this should be a signal for an upside.

I missed the Gap Up, but by using Trading View, we can see that ADX is trending above 40 at around 1755hrs and RVI remain above 50. This is where I decide to set my entry price and also place my Stop Loss price at around $106, around 1800hrs.

As I mentioned in my previous article, I will be monitoring how the ADX would be moving, it should be moving upside in a bullish set up, and it did move upside for a while, before going down.

At the same time, I notice that the RVI is starting to show sign of going below 50, which could indicate that it might turn bearish soon.

That is where I decided to exit around $111 This help me to make a profit of 5 dollars per share. Not a bad short trade to take advantage of the positive earnings upside.

This is a good trade in premarket, using the positive upside trend building for TSM. There might be another opportunities in actual trading.

Appreciate if you could share your thoughts in the comment section whether you think TSM could hit a new high today (18 Jan 2024).

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.