Long Position on TSM @ $56.50 on 6/24/2020 (Momentum)

Taiwan Semiconductor Manufacturing Company Limited (TSM) engages in manufacturing, selling, packaging, testing, and computer-aided design of integrated circuits and other semiconductor devices.

The company manufactures masks and electronic spare parts; researches, develops, designs, manufactures, sells, packages, and tests color filters; and offers customer and engineering support services. It is also involved in investing activities.

The company serves customers in computer, communications, consumer, and industrial/standard segments in North America, Europe, Japan, China, South Korea, Asia Pacific, the Middle East, and Africa.

Taiwan Semiconductor Manufacturing reported 1st Quarter March 2020 earnings of $0.75 per share on revenue of $10.3 billion. The consensus earnings estimate was $0.66 per share. Revenue grew 45.2% on a year-over-year basis.

This stock is near its breakout point and as the economy opens up, the demand for semiconductors go up. This suggests that the stock price should increase.

Entry point: $56.50

52-week trade range: $38.91 - $60.64

Stop/Loss: $53.65

Target Price: $62.15

Updates

7/8/2020 3:54:51 PM

TSM closed at $62.70

Position closed on 7/8/2020 at price of $62.70 with a 10.97% gain in 14 days.

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