BROADCOM Rejection at the top of 3-year Channel Up possible.

Last time we looked at Broadcom Inc. (AVGO) was more than 3 months ago (June 10, see chart below), where we gave a buy signal, targeting $320:

The price is now on the 2nd straight red week after it marginally breached above its 3-year Channel Up, and if it closes in red eventually, we will have a strong technical case for a rejection pull-back.

As you can see, every time the 1W RSI got that overbought and got rejected on its 4-year Resistance Zone, it always corrected back to its 1D MA100 (red trend-line).

Technically that should be the next medium-term buy entry point to finish the year with a $400 Target.

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