$Taiwan Semiconductor Manufacturing(TSM)$ NOV20 430C is still actionable.
Zone: $417.28 to $423.16
Invalidation: close under $404.08
Objectives: $445, then $470
The math: up 5.9% to the first objective and 11.8% to the second, against 3.8% risk on the invalidation, about 3 to 1 to the second.
This swing setup looks like a strong runner who stumbled last week and is now finding his stride again. Taiwan Semiconductor reported a record quarter on October 15, revenue up 41 percent from a year ago, and said demand for AI chips still far outruns what they can supply, which means the business behind this price is still growing fast. Buyers held the $415.50 low and closed at $420.22, up 1.8 percent, well above the $404.08 range low underneath. If that floor holds, price has room toward $445 first and $470 next, while a close under $404.08 says the setup is done, plain and simple.
Watching $427.16. That was the high, and a close over it would show buyers pushing again, not just defending the low.
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