Taiwan Semiconductor (TSM) NewsBite - Trading With Unusual Volume

Posted: Wednesday, June 17, 2009 2:53 PM EDT

Taiwan Semiconductor (TSM) appears to be trading at a higher than usual volume today and is now at $9.28, up $0.16 (1.75%) on volume of 31,120,314 shares traded. For the last 30 days TSM has traded 20,337,402 shares on average each day. So far today's volume is 53.02% above that average volume. Over the last 52 weeks the stock has ranged from a low of $5.83 to a high of $12.00. Taiwan Semiconductor stock has been showing support around $8.79 and resistance in the $9.77 range. Technical indicators for the stock are bullish and S&P gives TSM a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on TSM the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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