5 Daily Charts to Watch: $TSM Extends Its Rebound, $AMD Faces a Critical Test
Markets are sending some important technical signals this week.
$TSM has staged a sharp rebound after hitting oversold territory, while $CRWD is showing signs of a potential move higher.
$AMD is now at a critical inflection point, and $PLTR and $TSLA are both testing levels that could determine their next moves.
Here are 5 daily charts worth watching:
1. $Taiwan Semiconductor Manufacturing(TSM)$
Sentiment completely broke down last week. The stock breached the lower Bollinger Band, RSI fell below 30, and a gap at 391 pointed to the potential for a double-digit rebound.
The setup is now playing out. $TSM rallied 6% on Friday, with the advance adding another 5.6% so far this week.
Technicals don't lie 🎯. Sentiment does.
2. $CrowdStrike Holdings, Inc.(CRWD)$
The 100DMA is providing solid support. With the stock in oversold territory, a move toward the 20DMA looks increasingly likely.
That level currently sits at 241.
3. $Advanced Micro Devices(AMD)$
Is the sequence complete?
The relief rally off the lower Bollinger Band has now reached the 20DMA. This is a key inflection point.
If the advance is merely a counter-trend bounce within a broader bearish move, sellers could step back in here and push the stock lower.
But if bulls break through and reclaim the 20DMA, the bottom may be in.
4. $Palantir(PLTR)$
A nice bounce off the lower Bollinger Band yesterday. The stock is down 1.4% in premarket trading, but after a 5.5% rally, that looks more like consolidation than a major reversal.
167 is the key level to hold today. If it fails, 163.2 is the next downside level, about 3.2% lower.
5. $Tesla Motors(TSLA)$
As long as 370 holds, the setup remains constructive, with the upper Bollinger Band as the next target.
If 370 fails, a move down to the 20DMA, which coincides with the 200DMA, would complete the current move.
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