Eyes now on TSMC tomorrow after ASML's earnings earlier today

Taking a look at TSMC’s stock after ASML fell around 5% earlier today after reporting its earnings. ASML said it is still on track for its 2025 target but sales dipped, although sales were solid in China. TSMC’s stock closed yesterday’s session at $139.75 a share. Applying the moving averages to the chart, we can see the price dipped below its 20-day moving average and managed to remain above its 50MA in yesterday’s session. The 50MA will be a vital support point here at the US open as markets will try to recover from recent selling pressure and now the negative sentiment surrounding chip stocks after ASML results. Nonetheless, we may see some consolidation ahead of the earnings tomorrow with buyers rushing in. Therefore, the support below reads $135.81, which is the current reading of the 50MA. A break below it could then slide for a test at $132.99 before any further downside would require attention. On the other hand, resistance is now along the 20MA, which reads $140.55. A move back above the 20MA would then face resistance around $141.80-$142. Looking at the technical indicators, it can be argued that they are in a typical position right ahead of the earnings. MACD has just turned negative but the RSI is neutral as it reads 50, suggesting mixed signals.