Should You Buy TSMC (TSM) After Golden Cross?

Group 1 - Taiwan Semiconductor Manufacturing Company Ltd. (TSM) has reached a key level of support, with its 50-day simple moving average crossing above its 200-day simple moving average, indicating a "golden cross" which can signify a potential bullish breakout [1] - A golden cross consists of three stages: a downtrend that bottoms out, a shorter moving average crossing above a longer moving average, and a subsequent upward price movement [2] - TSM has experienced a rally of 13.6% over the past four weeks, and currently holds a 3 (Hold) rating on the Zacks Rank, suggesting it could be poised for a breakout [3] Group 2 - The bullish outlook for TSM is reinforced by a positive earnings forecast for the current quarter, with two upward revisions in earnings estimates over the past 60 days, and an increase in the Zacks Consensus Estimate [3] - Investors are encouraged to consider adding TSM to their watchlist due to the significant technical indicator and the positive movement in earnings estimates [5]