NASDAQ:AVGO is repeating the same pattern from 2 months ago before it broke out. Look for entries near trend line supports or on a break out. Support and resistance levels are clearly marked via the trend lines. Also, when the ADX crosses bullish it will be an extra long indicator.
Good company with over 3.5% dividend. Growth stock. Retesting the breakout are. I think it's a good buy there. I will watch to add some there for a long term growth and earn yield. This is not a recommendation to buy or sell any financial asset. These posts are for educational purposes only. Please do your own homework before purchasing any assets.
The market is Bullish.
The idea is to go long following the major trend and hope that the Earning report due on Thursday will bring positive news.
The company will report its fiscal Q2 2020 earnings after the market closes on Thursday. Analysts are expecting $5.14 a share profit with the projected sales of $5.69 billion.
Technological stock NASDAQ:AVGO goes down and this is opportunity for LONG position.
The analysis based on Bollinger Bands (21,2) and RSI (30,70). We can see at 258$ the BB breakout when the RSI indicate to wait for more drop down.
Together with support trend line it's yield a strong buy at 254$.
Two scenarios are possible, the stock still goes down below 254$...
These guys will go down with the ship too. And you may get a great deal on a high position shorter these tech stocks rather than the XLK. I found a few with mediocre balance sheets that are up too high.
Automatic Data Processing (ADP)
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AVGO. I am bearish on AVGO. To confirm it, it needs to stay below the red trendline (resistance) and breaking down below the green trendline (support), targets are 210, 202. If the red trendline is broken out, bear play is invalidated.
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The 50sma (yellow line) is bouncing back, trying to cross the 200sma (red line), and after it must cross 100sma (blue line) for it to continue being bullish.
10sma is short-term support - $29.3
All time highs is short-term resistance...
Hi, today we are going to talk about AVGO
We observe a D1, some important points. The details are highlighted above.
Thank you for reading and leave your comments if you like.
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Reported by Reuters
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