TSMC's October Revenue Increased by 59.7%

TSMC’s October revenue rose 59.7% year‑over‑year, underscoring continued strong demand for AI chips and bolstering the company’s long‑term outlook. The stock is trading above its 20‑day simple moving average (SMA20) of 375.4 but remains below the 50‑day SMA (393.3), suggesting short‑term upside potential. The relative strength index (RSI) sits at 53, in a neutral zone, while the MACD line is above its signal line, indicating a modest shift toward positive momentum. A 2% decline in the last 24 hours may reflect pre‑announcement pricing, but robust earnings could trigger buying pressure. Nonetheless, caution is advised given the 50‑day SMA resistance and prevailing market conditions.

TSMC's strong 59.7% increase in October revenue signals that AI chip demand continues, creating a positive near-term catalyst for NVDA. However, NVDA has fallen sharply by 12.5% over the past 24 hours and its RSI stands at 34.6, in weak territory; MACD is negative and the price is below the SMA20/SMA50, meaning the technical picture remains impaired. The news could trigger a recovery attempt, but it may remain an oversold bounce. I expect a mild upward bias over a 1-3 day window, though confirmation is needed for a trend reversal.