TSM — Semiconductors Playbook
TSM trades at 432.15, holding above both the rising 50-SMA (403.69) and 200-SMA (333.98), keeping the broader uptrend structurally intact — price sits 29.39% above the 200-day, a stretched but trend-confirming gap. Momentum is more mixed: RSI at 55.24 is neutral-to-constructive, while MACD at 7.76 has crossed below its signal line at 8.82, hinting at a near-term loss of upside thrust even as the longer trend holds. Initial support sits at the 50-SMA near 403.69, with deeper trend support back at the 200-SMA near 333.98; reclaiming momentum would require MACD curling back above its signal alongside RSI pushing through the 60 zone. The setup of interest is a pullback-and-stabilize toward the 403–410 shelf, with a trigger on a MACD bullish recross or a clean reclaim of recent local highs above 432. The thesis weakens on a decisive close below 403.69, and is invalidated on sustained trade under the 200-SMA at 333.98 — that would break the prevailing trend regime rather than just cool it.