Taiwan Semiconductor is significantly overbought, but analysts are still shouting: it can still rise.
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Taiwan Semiconductor's stock price has surged, reaching the most severe overbought level in three years. Analysts point out that Taiwan Semiconductor's crucial role in the field of artificial intelligence indicates that it may be too early to give up on the upward trend. With a 14-day relative strength index exceeding 82, Taiwan Semiconductor has become one of the most severely overbought stocks in Asia. JPMorgan Chase has raised Taiwan Semiconductor's target price to NT$850, citing its role as a driver in data centers and artificial intelligence processing. Taiwan Semiconductor has risen by nearly 30% this year.
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