Taiwan Semiconductor (TSM) NewsBite - TSM Is On the Move

Posted: Tuesday, September 01, 2009 11:12 AM EDT

Taiwan Semiconductor Manufacturing (TSM) appears to be on the move today and is now at $11.11, up $0.41 (3.83%) on volume of 5,572,116 shares traded. Over the last 52 weeks the stock has ranged from a low of $5.83 to a high of $12.00. Taiwan Semiconductor Manufacturing stock has been showing support around $10.45 and resistance in the $10.85 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 April out-of-the-money bull-put credit spread below the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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