$AVGOTaiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADRBATS:TSMKalaGhaziExecutive Summary: A significant technical development is underway for Broadcom Inc. (AVGO). Beginning around Monday, April 7th, the stock has shown early signs of a potential trend reversal, characterized by the formation of a new ascending trendline. This bullish structure is consolidating within what appears to be a Symmetrical Triangle pattern, a classic formation that typically resolves in the direction of the preceding trend. The immediate resistance to monitor is the $340 level. A decisive breakout above this ceiling could trigger a powerful upward move, projecting a medium-term price target of $400. Key support levels are established at $330 and more critically at $300, which would act as the final defensive line should the pattern fail. Detailed Technical Breakdown: 1. Emergence of a New Bullish Structure: The price action observed from April 7th onwards is critically important as it marks a departure from previous consolidation. The formation of a higher low series, connected by a rising trendline, indicates that buyer demand is becoming more aggressive at successively higher prices. This ascending support line forms the lower boundary of the current technical setup and is the primary evidence for a strengthening short-term bullish bias. 2. The Symmetrical Triangle Pattern: The price action is currently contained within the converging bounds of the ascending support line and a descending or flat resistance line near $340. This creates a Symmetrical Triangle pattern, which represents a period of indecision where the forces of supply and demand are nearly in equilibrium. Implication: This pattern is a continuation pattern, meaning it typically pauses a larger trend (in this case, the long-term uptrend) before resolving with a breakout. The coiling action builds energy, often leading to a significant price move upon exit. Trigger: The trigger for a bullish move is a decisive breakout above the $340 resistance level, confirmed by a strong bullish candle and, ideally, an increase in trading volume. 3. Critical Price Levels: Support and Resistance: Resistance: The $340 level is the immediate technical hurdle. A sustained break above this, especially on high volume, is the required catalyst to validate the bullish thesis and signal the next leg up. Support: Primary Support ($330): This is the dynamic support offered by the ascending trendline. A bounce from this level reinforces the bullish structure. Major Support ($300): This is a crucial psychological and static support level. A breach below the ascending trendline would invalidate the current bullish pattern, and a fall to $300 would represent a much deeper correction. This level must hold to prevent a more significant bearish reversal. 4. Projected Target and Strategic Outlook: The measuring technique for a Symmetrical Triangle involves calculating the height of the pattern's widest part and projecting that distance upward from the point of breakout. Price Target: A successful breakout above $340 projects a move towards the $400 zone. This objective aligns with both the technical measurement and the round-number psychological resistance, making it a credible and significant target. Strategy: The tactical approach is to monitor the price action around the $340 resistance. A confirmed breakout offers a potential long entry with an initial profit target at $400. Stop-loss orders should be placed strategically, ideally below the ascending trendline (near $330) or more conservatively below the $300 major support, depending on risk tolerance. The integrity of the ascending trendline from April 7th is key to maintaining this optimistic outlook. monday 7th april ascending trend formed for $TSM. the support zones are 0.236 (269.38) and 0.382 (243.56). our target price is 320. we can see if the trend breaks, it may land on one of our supports. reparaphase this and make it longer please Of course. Here is a refined and expanded technical analysis of Taiwan Semiconductor Manufacturing Company (TSM), building upon your initial observations. Technical Analysis: Taiwan Semiconductor Manufacturing Company (TSM) Executive Summary: A significant technical development emerged for Taiwan Semiconductor Manufacturing Company (TSM) around Monday, April 7th, with the establishment of a new, clearly defined ascending trend. This bullish structure suggests a resurgence of buyer confidence and positions the stock for a potential continuation of its upward trajectory. Our analysis identifies two key Fibonacci-based support levels that should provide buying interest on any pullback, while the primary upside target is projected at the $320.00 level. The integrity of the newly formed trendline is paramount; a breach would likely trigger a retracement towards the identified support zones, offering strategic entry points for capital allocation. Detailed Technical Breakdown: 1. Emergence of a Bullish Trend Structure: The price action beginning on or around Monday, April 7th, marks a pivotal shift for TSM. The formation of a consistent series of higher lows and higher highs has given rise to a definitive ascending trendline. This trendline now acts as a dynamic support level, illustrating that demand is overwhelming supply at progressively higher prices. This pattern is the foundational evidence for a positive near-to-medium-term bias, indicating that the momentum has shifted in favor of the bulls. 2. Hierarchical Support Framework: In the event of a near-term pullback, we have delineated two critical support tiers derived from Fibonacci retracement levels of a relevant prior upward move. These zones represent high-probability areas where buyers are expected to re-enter the market. Primary Support (Shallow Pullback): 23.6% Fibonacci Level at $269.38 A retracement to this level would constitute a shallow and healthy correction within a strong uptrend. A successful bounce from the $269 zone would signal underlying strength and likely serve as a launching point for a resumption of the move toward our target. This is the preferred and strongest support scenario. Secondary Support (Moderate Correction): 38.2% Fibonacci Level at $243.56 A deeper pullback to the $243.56 area would indicate a more pronounced correction but would still remain within the normal bounds of a bull market. The 38.2% Fibonacci level, or "shallow retracement," is a classic level for institutional accumulation. While a test of this support suggests greater near-term weakness, it would also present a potentially higher-value entry point for long-term investors. 3. Price Projection and Strategic Outlook: Upside Target: $320.00 The $320.00 price target is established as the next significant technical and psychological objective. This projection is based on a combination of factors, including measured move targets from the recent consolidation breakout and the identification of prior resistance levels. A successful ascent to this level would validate the strength of the current ascending trend. Strategic Scenario Planning: Bullish Scenario (Trend Holds): The price respects the ascending trendline from April 7th and uses it as a springboard to continue its advance. The path of least resistance remains upward, with pullbacks being shallow and brief, ultimately targeting $320. Consolidation/Correction Scenario (Trend Breaks): If the stock fails to maintain its momentum and breaks below the dynamic ascending support, a deliberate retracement towards the Fibonacci support levels at $269.38 and potentially $243.56 becomes the base case. This would not necessarily invalidate the broader bullish thesis but would instead offer strategic opportunities to build a position at more favorable prices within the context of the larger uptrend. In conclusion, the nascent ascending trend provides a clear and optimistic framework for TSM. Traders and investors should monitor the dynamic trendline support for continuation signals, while viewing any breakdown not as a failure, but as a potential gateway to acquire shares at key value-based support levels on the path toward the ultimate $320 target.