Broadcom is challenging the upper boundary of a well-defined rectangle. Rectangles narrower than 15% of the underlying value of the asset is my absolute favorite pattern.
While lagging indicators are cooling off (RSI/MACD on Weekly) it remains to be proven if AVGO makes it further up or swing failures the highs.
Overall, I am looking to take a short from the upper zone if given.
Could she dump from right where she is? In theory yes, but in that case my count(s) are wrong.
📈 What is a Rising Wedge? The Rising Wedge is a bearish chart pattern characterized by two converging trendlines, with the lower trendline sloping upward more than the upper trendline. It typically signals a potential bearish reversal, with the price likely to break downward after the wedge pattern.
📈 How to Identify:
Draw a trendline connecting at least two lower...
AVGO is testing the Resistance (1) level (925) of the 4 month Rectangle pattern.
This is a short term sell signal unless it crosses upwards.
The Rising Support trend line has been holding the long term bullish trend intact for 1 year exactly (October 13th 2022).
Trading Plan:
1. Sell as long as the candles close under Resistance (1).
2. Buy if one closes over...
AVGO looks interesting.
Let´s enter a long position and wait for the price to achieve the target.
Our predicted target is 921.73 $
Stop loss and target lines are indicated on the chart.
Good luck!
Top line virtually flat with a resistance line that has been tested x 4.
Each touch of a support or resistance line strengthens the level.
Neutral pattern until broken.
No recommendation.
"Even if you are on the right track, you will get run over if you just sit there."
Will Rogers
SOXS the 3x Inverse ETF for Semiconductors, has broken out of a Bullish Head and Shoulders and now sits at the 89EMA. If things go as expected, SOXS should be clear to at least give us a 60-150% rally. At the same time, we also have a Bearish AB=CD on AVGO and what looks to simply be filling of a gap it made at $830 after breaking below its own slanted Bearish...
NASDAQ:AVGO had a volatile premarket and a gap down on open on the news of NASDAQ:GOOG cutting them as a supplier.
www.reuters.com
This kind of news pops up for chip suppliers and rarely amounts to much.
The gap down closed the small gap from 8/21. If we take a measured moves of the gap from the most recent highs we could see price move in a new range...
Broadcom stock is in a downtrend, but we believe this is part of the current substructure that should end soon. The turquoise five-part move should still reach around $1040 in the long term.
However, it is essential to remember that the stock would fall further if it breaks below the support at $812, which we consider 36% probable.
My name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks , crypto , options and indices 🖥️
I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise.
This is how you build real long term...
Analyzing the options chain and the chart patterns of AVGO Broadcom prior to the earnings report this week,
I would consider purchasing the 900usd strike price Calls with
an expiration date of 2023-9-8,
for a premium of approximately $21.10.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward...
NASDAQ:AVGO pre-earnings update. This is a large long-term holding for me and it has been one of my best performers. I am not looking to add at this time and would be taking profit if my cost basis wasn’t already so favorable.
There is a lot to like about AVGO. Great dividend growth history, consistently outperforming earnings expectations, strong management...
NASDAQ:AVGO - Great company, however chart is whispering a tale of topping tail.
Was that a topping tale on high volume or just a false alarm, well time will tell. In the meantime your thoughts?
Every bull market has a “theme” – a specific sector or group of stocks that lead the rest of the market. In the last '90s it was dot-com. From 2009-2020 the theme was big tech. The short-lived bull from 2020-2021 was driven by work-from-home stocks.
This market has had a theme too. And that theme is artificial intelligence.
Stocks with exposure to AI have been...
NASDAQ:AVGO has consolidated and built a strong volume profile since its rapid climb to the $800's in May. Recall in May that it gapped up with a breakaway gap and completed a measured movement. It recently broke out of a symmetrical triangle and completed a measured movement from that pattern. Price action returns the the cradle of the symmetrical triangle ~60%...
