The “Chart of the Day” is Taiwan Semiconductor Manufacturing (TSM), which showed up on Tuesday’s Barchart “NYSE 12-month high” list. TSM on Tuesday rallied by 1.46% and posted a new 10-year high. TrendSpotter has been long on TSM since April 7 at $12.72. In recent news on the stock, Macquarie on June 1 upgraded TSM to Outperform from Neutral based on growth in its 28 nanometer technology, business prospects from Apple, and the rise in ARM in computing. Taiwan Semiconductor, with a market cap of $70 billion, is the world’s largest dedicated integrated circuit foundry.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “All Time High” list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the “All Time Highs” menu item on the left menu bar. A stock that has posted a new All-Time high is typically showing strong upside momentum. We then used the Filter pull-down to select just Large Cap stocks.
Barchart’s Opinion trading systems are mostly a Buy and Barchart’s daily TrendSpotter trading system is a “Buy.” Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- TrendSpotter: Buy
- Short-Term Indicators: 80% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 96% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
