Longest Rally Record Since 1999 Snapped, Institutional Accumulation Targets New Highs

• • A trend Break of Structure on the 1-hour chart confirms solid buyer dominance after the price successfully cleared a strong supply resistance level.
• • Sentiment on April 16-17, 2026, remains highly positive driven by a fantastic report from a key manufacturing partner (TSMC), even though the stock recently snapped its 11-day consecutive winning streak.

The semiconductor giant's stock became the main spotlight after snapping its 11-day consecutive rally—a winning streak record not seen since 1999—as traders began to take partial profits. However, this pullback was very shallow and actually proves the resilience of institutional buying interest. Fundamentally, artificial intelligence (AI) chip sector sentiment was reignited by an outstanding report from TSMC, which printed record Q1 revenue, raised guidance targets, and confirmed production capacity tightness for its key clients. Technically on the daily (1D) chart, previous price rejection in the lower area has paid off completely with an aggressive breakout toward upper resistance. On the 1-hour (1H) chart, the price is currently stable in the $198.68 area after successfully capturing and validating the $195 level as a very strong new support floor. With the AI narrative momentum showing no signs of fading, this accumulation pressure is projected to carry the price to target an absolute close above the $207 level, which would be the confirmation of a new All-Time High breakout over the next 3 days.

Although fundamentals remain superior, anticipation ahead of the May earnings report is starting to trigger capital rotation into second-tier chip companies. If momentum exhausts and retail selling pressure forces the price to plunge back below the $195 breakout level, this movement risks becoming a bull trap that will delay the ATH scenario.