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tdp2664 InvestorPlace Taiwan Semiconductor Manufacturing Co. (NYSE: TSM ) — This is the world's largest dedicated semiconductor foundry, but with a worldwide economic slowdown, demand for semiconductors is expected to decline. Therefore, this highly cyclical company had its rating reduced by several analysts in early August. The rating cuts drove TSM down through a crucial support line at $12 and confirmed a breakdown from a double-top at $14. The stock's recent bounce to $12 resulted in a reversal to the 50-day moving average line and presents an excellent opportunity to sell or sell short. The downside target is under $10. See Sam Collins' Daily Market Outlook: Can This Market Manage a Rally? See Serge Berger's Daily Market Outlook: Why the Current Market is too Dangerous for Investors See Serge Berger's Trade of the Day: Fast Trade in TXN Could Pay Off
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