There’s another major factor at play here: the Chinese market. Comparison with GLOBALPRIME:CHINA50 , as indicated in the chart, shows that TSM is faring better than, while being heavily influenced by, the market condition in China. Given my analysis before regarding the Chinese market, I believe we are now in the normal pre-COVID 19 range of operation and we are not witnessing a bear for now.
For TSM , I don’t see a bear either given the company’s excellent profile. However, the stock price is not yet in the pre-COVID19 range, as it’s stuck in the median trend. This should change given the lack of momentum. My estimation of a price target is around 130 for April next year, when the current flattening meets the pre-COVID19 ..