May. 12 at 7:35 PM
$TSM $SMH $QQQ
TSM sold off intraday to
$386.12 but held the prior 2/24 - 2/26/26 price cluster in the
$385–
$390 zone, with buyers stepping in beneath that area. Price and momentum have been retracing since the strong 5/6/26 advance, and if price continues to pull back, the first technical warning would be a daily close below
$390 accompanied by daily momentum/ RSI falling below 50. A stronger warning would be a daily structural breakdown with a close beneath the
$386/
$385 shelf. On the weekly chart, the broader structure remains bullish - As long as price holds above the 2/23/26 weekly close at
$374.58, with weekly momentum (RSI 67) still in a bullish trend‑strength regime: