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Chipmaker Taiwan Semiconductor Stock Trying To Close In On Key Technical Measure

The Relative Strength (RS) Rating for Taiwan Semiconductor (TSM) climbed into a higher percentile Friday, as it got a lift from 69 to 72.

The Taiwan-based chipmaker is one of the key players in the automotive chip supply shortage that started late last year. The worsening chip shortage problem is affecting car sales across all automakers. Earlier this week, the U.S. Commerce Department pressed TSM Semiconductor and other Taiwanese firms to prioritize the needs of U.S. automakers to ease the chip shortage.




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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

This exclusive rating from Investor’s Business Daily tracks share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price movement over the last 52 weeks stacks up against all the other stocks in our database.

Over 100 years of market history reveals that the top-performing stocks often have an RS Rating north of 80 in the early stages of their moves. See if Taiwan Semiconductor can continue to show renewed price strength and clear that threshold.


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Is Taiwan Semiconductor Stock A Buy?

Taiwan Semiconductor stock is working on the right side of a consolidation with a 142.30 entry. See if the stock can break out in volume at least 40% higher than normal. It’s a later-stage pattern, and investors should be aware that those involve more risk. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.

 

Earnings-per-share growth declined in the company’s most recent report from 31% to 28%, but revenue rose from 21% to 24%.

The company holds the No. 9 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Chipmos Technologies (IMOS) and Rogers (ROG) are also among the group’s highest-rated stocks. For more industry news, check out “Chip Stocks And Semiconductor Industry News.”

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