Taiwan Semiconductor Manufacturing Co. Ltd (TSM) , the world's leading manufacturer of semiconductor chips is on many investors' minds these days for several reasons.
The company is set to report earnings this week so let's take a look at the charts.
In the daily bar chart of TSM, below, we can see that the shares have been cut down sharply the past nine months. A low in July did not hold up for long and prices sank still lower. TSM trades below the declining 50-day moving average line and below the declining 200-day line.
The On-Balance-Volume (OBV) line has been weak since February telling us that sellers of TSM are more aggressive than buyers. The Moving Average Convergence Divergence (MACD) oscillator (MACD) is bearish.