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In this video, I break down why I’m watching TSM again after its pullback into key support near the 30 SMA and Voodoo Line levels. I’m looking for a potential bounce toward $450 first, with the possibility of a larger move toward $480 if support continues to hold into earnings. I also walk through a few defined-risk ways to approach the setup, including debit spreads and a broken wing butterfly, while keeping $417 as my line in the sand for protecting capital.
Looking for another perspective from the Simpler Trading team? Taylor’s Focused Trades Newsletter gives you a closer look at the stocks, setups, and market signals he’s watching each week. Tune in to see what’s on his radar next.