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TSM - SMH: Sell Signal Triggered By Taiwan And Overstretched Technicals On Semiconductors
Taiwan Semiconductor Manufacturing Company Ltd.
The relentless up momentum in technology (XLK) and semiconductors (SMH) sectors came to an abrupt halt last week against the backdrop of a worsening Wuhan coronavirus outbreak, which threatens to disrupt supply chains of major tech firms in the event of an extended shutdown in Chinese manufacturing. Taiwan Semiconductor Manufacturing Co. (TSM), the largest holding in SMH, was quick to reassure investors per Focus Taiwan:
Among them, contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) said its 12-inch wafer plant in Nanjing and 8-inch wafer plant in Shanghai were