Swing Trade Idea (TSM) – April 13, 2021
Our bullish trade for Tuesday, April 13th is TSM (Taiwan Semiconductor). TSM is part of the Technology Sector (XLK). XLK has experienced a 6.6% gain in the last month as technology stocks maintain their bullish trend.
TSM recently broke above $120 and has came back to retest this level. Additionally, TSM’s 1M trend turned bullish on April 8th. With a technical score of 7 (out of 10), TSM is a strong stock that will likely continue higher.
As a stop loss, if TSM were to trade below $114 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also would considercutting losses on this options trade if the value of the vertical spread moves above $6.10.
