TSMC: Bearish trend

TSMC, Daily

In the Daily timeframe, #TSM formed a descending channel pattern. Price bounced off the upper trendline, and -DI crossed +DI on ADX. Also, MA50 crossed down MA200 to form a Dead Cross, which makes for a great selling opportunity!

• We are considering selling #TSM on a further decline with a target to 140.00;