Taiwan Semiconductor: 2 targets hit, the third is within reach

Taiwan Semiconductor is 8 weeks into a buy signal, with a gain of +14% already locked in. 2 of the 3 targets of our most advanced model have been hit ahead of schedule; the 3rd is due at week 10. The stop has been moved to breakeven, zeroing out trade risk. The confirmation week closed bullish, and the technical base — a double bottom in the 386 area — has held firm.