Taiwan Semiconductor Stock is trying to hit the main technical standard

news7f01/20/2023

0 1 minute read

Bloom Energy stock worth watching as RS rating jumps to 83

On Wednesday, Taiwan Semiconductor (TSM) the stock has earned an upgrade to Relative Strength Rating (RS)from 67 to 78 .

When you are researching about best stocks to buy and watchBe sure to pay attention to relative price strength.

IBD’s unique RS rating determines technical performance by showing how the price movement of a stock over the past 52 weeks compares to the price movement of other stocks in our database.

History shows that the biggest winners in the market usually have an RS Rating of at least 80 in the early stages of their moves. Let’s see if Taiwan Semiconductor stock can continue to show new price strength and break through that threshold.

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Is Taiwan Semiconductor Stock Worth Buying?

Shares of Taiwan Semiconductor have recovered from the bottom, regaining their 200-day moving average last Friday. The chipmaker’s stock is currently nowhere near a potential buy zone. See if the stock continues to form a chart pattern that could kick off a new move.

The chipmaker reported earnings growth of 60% in its most recent report, while revenue growth was 29%.

Shares of Taiwan Semiconductor ranked 9th among its peers in the Electronics-Semiconductor Manufacturing industry. Electronic STMicro (STM) and Amkor . Technology (AMKR) are also among the highest valued stocks. For more industry news, check out “News about chip stocks and semiconductor industry.”