Taiwan Semiconductor Manufacturing Company Ltd. (TSM) posted strong gains in recent intraday trading, with the primary bullish trend remaining firmly in control. The stock continues to move alongside a short-term ascending trendline that supports the current upward trajectory. This bullish structure is further reinforced by ongoing dynamic support from the stock's trading above its 50-day Simple Moving Average (SMA). Meanwhile, momentum indicators continue to generate positive signals, adding further strength to the prevailing uptrend.

Therefore, our outlook remains bullish for the stock's upcoming trading sessions, as long as support at $420.00 remains intact. Under this scenario, the stock is expected to target the key psychological and resistance level at $500.00.

Today's price forecast: Bullish.