NFTRH+ has been designated as tier 2 in the updating system, whereas tier 1 is for more detailed or higher priority updates and tier 3 is just brief notes (and an occasionally chart) added to the Trade Log Notes page. Tier 1 updates are posted and emailed directly to subscribers and Tiers 2&3 updates are posted here at the site and announced on Twitter (@NFTRHgt).
In changing to a tiered updating system NFTRH+ has been given more general responsibilities (like this morning’s micromanagement of the silver pullback at a subscriber’s request, for example) than its previous mode of simply noting stock setups.
On June 1st however, we did an old fashioned stock spotlight on Taiwan Semiconductor (TSM) in an update that is now public. Amid the most interesting market backdrop I’ve personally seen since 2008 I have got to remember to market the NFTRH service on occasion and what better way to do that than show some different, maybe less prominent aspects of it?
The link above shows the chart as it was during the update and the updated chart today shows that so far it’s doing the right thing per the update’s projection. In the update we noted the following as TSM was still inside the flag:
With word back in April that Apple may be partnering with TSMC (replacing Intel) to make its chips, and with news that TSM is building a plant in Arizona for that purpose among others, TSM has been on the edge of my mind. So much so that I added it today as it has bull flagged down to short-term support and the moving averages. Those moving averages will be my tolerance in a risky market. Hold the MAs and I’ll have a constructive view, lose them and I’ll manage risk.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.