If we can see the bullish reversal happen on the daily timeframe with the SQZMOM indicator early in the next week, a quick run to $1200 followed by $1250 is definitely possible.
I Would like to see at least a mild squeeze compression show up on SQZPRO Tuesday Jan 16th or Wednesday to confirm the move on the upside.
As it is Broadcom, the move could be sudden. A quick move back into the most recent range (I would consider $1120 a safe entry) would a great confirmation.
I Would like to see at least a mild squeeze compression show up on SQZPRO Tuesday Jan 16th or Wednesday to confirm the move on the upside.
As it is Broadcom, the move could be sudden. A quick move back into the most recent range (I would consider $1120 a safe entry) would a great confirmation.
Trade active:
Entered near $1120.00, price looks like it wants to consolidate today, we are getting close to bullish reversal on the Daily timeframe.
Everything is going as expected so far.
Everything is going as expected so far.
Trade active:
The trade is going as expected so far. I have extrapolated data based on last bullish runs in AVGO and have even better targets for Feb 16th: 1338, 1430, 1450 and final target being 1550.
These new targets are based on past performance during bull runs. Last bull run, the stock moved 20.93%. An equal move would put the stock price at $1338.
Now, if we extrapolate this number based on the delta of past Squeeze Momentum peaks with **forecasted next peak**, there was an increase in strength of 40.5594% peak over peak.
That would put the next target at 29.46% (20.93 *1.405594), or $1432.
If we stick with past-time data, the delta between the two previous peaks is 47.748%, which, added to 20.93% gives 30.96%, or $1448.
Final target is the growth from the lowest point of the last bull run to its peak (price action, not momentum), which was 27.6%. Multiply this value by the delta of the two previous peak (known data), which gives a total move from the bottom of 40.77% ($1550 price target).
It all sounds insane, so I'll stick with previous targets of 1200 and 1250. I just wanted to share all of this out here in case the stock goes parabolic and I just discovered the holy grail of price forecasting.
TLDR; Price action is doing what we want it to do. Let's wait and see how it goes in a couple of days!
These new targets are based on past performance during bull runs. Last bull run, the stock moved 20.93%. An equal move would put the stock price at $1338.
Now, if we extrapolate this number based on the delta of past Squeeze Momentum peaks with **forecasted next peak**, there was an increase in strength of 40.5594% peak over peak.
That would put the next target at 29.46% (20.93 *1.405594), or $1432.
If we stick with past-time data, the delta between the two previous peaks is 47.748%, which, added to 20.93% gives 30.96%, or $1448.
Final target is the growth from the lowest point of the last bull run to its peak (price action, not momentum), which was 27.6%. Multiply this value by the delta of the two previous peak (known data), which gives a total move from the bottom of 40.77% ($1550 price target).
It all sounds insane, so I'll stick with previous targets of 1200 and 1250. I just wanted to share all of this out here in case the stock goes parabolic and I just discovered the holy grail of price forecasting.
TLDR; Price action is doing what we want it to do. Let's wait and see how it goes in a couple of days!
Trade closed: target reached:
Andddd we hit final target.
I won't update this trade idea anymore, but next targets are 1340, 1450 and 1550. Write that down.
I won't update this trade idea anymore, but next targets are 1340, 1450 and 1550. Write that down.
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Stocks, Options, Futures, Forex, Crypto, this is what we trade.
Learn profitable trading systems or build your own, just like I did.
jointherealworld.com/?a=tkbmft8bqf
Profit on original options is above 200% right now. Good time for early exit.