TSM Stock Price: Can TSM Achieve Its One-Year Target of $122.50

• The stock price is trading in a descending channel with a high probability of breaking out.
• At present, the TSM stock price is trading above the 50-day EMA and the 200-day EMA.

Taiwan Semiconductor Mfg. Co. Ltd. (NYSE: TSM) is a Taiwanese multinational semiconductor manufacturing and design company. Also known as the world’s largest semiconductor company. It manufactures and provides products, that are used in high-performance computing, smartphones, automotive, and digital consumer electronics.

An Overview of the Stock Performance

The stock price is performing well compared to the last year. It has observed an increase of 24.07% after a fall of more than 35% in the year 2022. This year it reached a higher value up to $110.69.

In the last three months, the price has dropped 13.89% after the firm reported its quarterly revenue as $480.84 billion. It has declined by -9.98% as per the year-to-year change. 

The stock price in the current month has recovered almost 6.35% of its value. It is heading toward its one-year target of $122.50 while having a yearly range of $59.43 to $110.69. The firm has forwarded an annualized dividend of $1.955988 with the current yield at 2.13%.

The total market capitalization of the TSM stock stands at $479,297,152,423 with an average volume of 10,483,275.

Technical Analysis of the TSM Stock

The TSM stock price has formed a descending channel in which the current value of the price is at $92.42. In the last few trading sessions, it formed multiple bullish candles from $84.57. It shows the bulls’ dominance over this price level. Currently, it is facing resistance from the upper line of the descending channel. However, it may soon give a breakout.

Furthermore, The Relative strength index (RSI) has shown a bullish momentum with a breakout from the descending channel. It indicates the bulls have more control over the stock price at the current levels.

Conclusion

Overall, the TSM Stock price is performing in an uptrend by breaking the descending channel pattern over and over again. So, the price prediction for the TSM stock will be bullish. At present, it is trading at the $92.42 level. Suppose the price breaks above $96.01, it may be seen rising toward the $104.82 resistance. If the price closes above the $110.86 major resistance level, it may probably achieve its one-year target price of $122.50.

Technical Levels

• Resistance Levels: $96.01 and $110.86
• Support Levels: $81.25 and $73.66

Disclaimer

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