Bit of a Wyckoff with TSM 13/01/2015.

What the broader market may do and a individual stock/stocks are different matters.

Lets look at TSM ,which is on news today, the Wyckoff Way. Weekly chart of TSM with today’s data missing, but it is currently trading around  49-50 cents.

A perfect Wyckoff Re Accumulation is now completed and we are in Phase E of the new UP LEG as of this writing. A BACKING UP ACTION ( Pullback) is likely, which  may or may not happen.

A meaningful CAUSE during the trading range had been built with a meaningful Tentative Bullish Price objective.

Today’s price action can be seen as a SOS taking TSM into Phase E. Strong support zone is the 40-45 cents which may or may not be tested.

All the Wyckoff Re Accumulation studies are on the Chart.

Disclosure : Held

Weekly TSM chart as at 12/01/2015 below.

tsmweekly13012016

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