AVGO Nearing Demand ZoneNice fresh demand zone here on the 60min chart. Cautious about AVGO being in a strong down trend on higher time frames though. This move offers about a 7:1 reward to risk so I'm still interested with a slightly smaller position size.
Confidence in the semi-conductor industry thanks to the blockchain boom, regardless of whether this zone holds or not. Let's see what happens!
Broadcom Inc. Deposito Arg Repr 0.025641 Sh
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Trade ideas
AVGO still a good playAvgo fell after I initially started watching it, I believe this was profit taking after the dividend period. However, price seems to be resting on a support line for now so I'm going to continue watching this. The arrows I drew more or less represent the price action that I'm expecting.
AVGO likely to bounceAVGO getting heavy volume on the bottom of its upward channel. I'll be a buyer above the top of this triangle in price and I'll reassess around $260. If it breaks into $260/all-time-highs it'll likely be good for much, much more. There is a line of resistance on both the RSI and MacD indicators that will be very important to watch, a break to the upside on either of these is a very bullish signal. Analysts seem very bullish on this ticker as well.
AVGO- H&S formation short at the break of $234.87 & 223.23 AVGO is breaking down from a H&S formation. Moneyflow is going down sharp. It looks pretty good quick short setup.
* Trade Criteria *
Date First Found- June 27, 2017
Pattern/Why- H&S formation
Entry Target Criteria- Break of $234.87
Exit Target Criteria- $223.23
Stop Loss Criteria- $241.23
Please check back for Trade updates. (Note: Trade update is little delayed here.)






















