Taiwan Semiconductor Charts Show Mixed Signals As Q2 Earnings Loom: What To Expect
Portfolio Pulse from Surbhi Jain
Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) is set to announce its Q2 earnings on Thursday, with Wall Street expecting $1.38 EPS and $20 billion in revenues. The stock has shown mixed signals with short-term bearish trends but long-term bullish indicators. Analysts see a 25% upside with a price target of $220.
July 17, 2024 | 5:08 pm
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Taiwan Semiconductor (NYSE:TSM) is set to announce Q2 earnings with Wall Street expecting $1.38 EPS and $20 billion in revenues. The stock shows short-term bearish trends but long-term bullish indicators. Analysts see a 25% upside with a price target of $220.
The stock shows mixed signals with short-term bearish trends due to ongoing selling pressure and trading below its 8-day and 20-day SMAs. However, long-term indicators like the 50-day and 200-day SMAs, MACD, and Bollinger Bands suggest bullish support. Analysts' consensus rating is Overweight with a 25% upside, indicating potential positive movement post-earnings.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100