There’s a good deal of oversold stocks out there.
Look at Taiwan Semiconductor (TSM), for example.
After gapping to a low of $133.86, the tech stock is oversold on RSI, MACD and Williams’ %R and could bounce higher. Helping, Morgan Stanley just named TSM a top pick and reiterated its overweight rating on the stock.
“We like TSMC’s quality and defensive nature during an elongated semi downcycle. Price hike confirmation and ongoing AI capex strength should be key catalysts,” said the firm as quoted by CNBC. “Following the sector’s recent broad selloff, we think TSMC is attractive again at 16x our 2025 EPS estimate with higher quality company operations and financial outlook.”