AVGO: at the macro resistance zone

Although the initial immediately bullish January setup failed to follow through (see idea from Jan'25) — with price breaking local support and sliding deeper into a complex corrective structure — the broader macro trend structure may have effectively fulfilled itself after reaching major macro resistance levels built since the May bull run.

Chart (Weekly):

https://www.tradingview.com/x/6bkBNjUx/

There is still not enough confirmation that a macro top is in. The first signs would be price starting to close below the 21DEMA and 50DMA, forming a sequence of lower highs along with bearish EMA convergence (similar to the February ’25 structure).

For now the key question is whether the negative post-market reaction to strong earnings and positive guidance will sustain. If selling pressure persists and price begins to decisively close below the 21EMA, that would increase the odds of a developing reversal. Otherwise, continued dip-buying may push price toward the upper boundary of the macro resistance box near 445.

Previously:
On a bullish macro structure (Jan'25): https://www.tradingview.com/chart/AVGO/z4cEzhHj-AVGO-mid-term-trend-structure/

On macro resistance zone (Sep 5 and 24):

https://www.tradingview.com/symbols/NASDAQ-AVGO/minds/?mind=Xx5G_0b2QhaxuhKfA7X0-A

and

https://www.tradingview.com/symbols/NASDAQ-AVGO/minds/?mind=vm4Q82RJSES0CuyHYuA6Ig