Taiwan Semiconductor Manufacturing Company Ltd. (TSM) stock advanced slightly in its latest intraday trading, continuing its choppy sideways moves within a narrow range. This consolidation aims to gather positive momentum that could support recovery and a renewed rise, while also working to unwind some of its clear overbought levels in the Stochastic indicators, especially with negative signals beginning to appear.

Despite this sideways action, the stock remains stable above the key resistance of 248.25, confirming its breakout. The medium-term main bullish trend stays in control, with trading moving along an upward slope line that reinforces the stocks recovery prospects.

Therefore, we expect the stock to rise in its upcoming trading, especially as long as it holds above 248.25, to then target its next resistance at 283.40.

Todays price forecast: Bullish.