To The Moon

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First for the week! Let’s review some stocks I’m looking at into next week:

Taiwan Semiconductor Manufacturing Co., Ltd. (NYSE: TSM)

TSM rejected the 351.59 Fib extension during the overnight session, but not during cash hours. This extension is key for upside continuation into the 400s. Otherwise, with time, TSM is more likely to retrace back into the 229-267 quarterly imbalance box.

That being said, TSM is breaking out of its long-term ascending channel - unless it breaks back below its channel resistance, continuation is favoured. The daily and weekly charts have bullish stochastic crossovers, so we could still see a cash session move into 351.59 in the coming weeks.

As TSM is in price discovery, any speculator looking for a sustainable swing short will only be in luck if the higher timeframe oscillators come out of extreme overbought conditions. Spoiler alert - they haven’t!

NuScale Power Corporation (NYSE: SMR)

SMR caught my attention as it’s one of the nuclear-themed stocks. It found support at the Fib at 14.93 and formed an inside candle this week. There’s also a very visible inverse H&S reversal pattern forming here. A weekly bullish stochastic crossover was also confirmed with this week’s candle close.

Given the resistance trendline breakout on the daily chart, SMR is likely to retrace back into the monthly resistance-Fib horizontal resistance confluence at 23 in the next few weeks.

Note the next major resistance sits at 30-31 should SMR be able to break above 23.

Pepsico, Inc. (NASDAQ: PEP)

Last year, PEP hit extreme oversold conditions on the monthly timeframe for the first time in several decades.

It’s currently basing over the 138.29 monthly level while continuing to reject off the 149 higher timeframe major resistance (note confluence of yearly/half-yearly resistance etc.). There’s also a potential descending triangle consolidation in play here.

PEP is effectively rangebound in the short-term until either level is broken. A breakout above the short-term resistance trendline should see continuation into the major resistance trendline, while a breakdown of support should result in a retest of major support trendline + imbalance fill.

@TigerWire @TigerStars @TigerEvents @CaptainTiger @MillionaireTiger

$Taiwan Semiconductor Manufacturing(TSM)$ $NuScale Power(SMR)$ $Pepsi(PEP)$ $Micron Technology(MU)$ $SanDisk Corp.(SNDK)$