AVGO showing quite textbook looking waves with fib confluence, expecting current impulse wave down to at least touch the previous major support. If price hits this target, I'd expect it to be the beginning of a deeper correction.
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short @ breakout entry 590USD SL 610 USD tp 535 USD or trailing SL
Similar chart to OPCH at the moment. I have orders throughout the Short Zone with the heaviest at the of the box for ideal risk/reward.
The PEAD projected a Bullish outlook for $AVGO after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 86.67%.
$AVGO – On a relative basis, Broadcom has held up well when compared to other high beta stocks. When I look at this formation of candles on the right side of the chart, I can see several patterns; 1. Flat base, blue line. 2 ascending triangle, 3. If you look hard an inverse head and shoulders and most important 4. A Minervini – VCP (volatility contraction...
AVGO : I like the setup here with a well-defined risk . Nice sort of ascending triangle that started forming in January. Strong support of the ichimoku cloud at 596. Can we break 610.40 and push to the previous high at 678 in the next few weeks? No one knows. But the risk vs reward ratio is good, as you can set your stop for a 3% max loss (below 596) and...
The U.S. warning China it could face devastating sanctions if it defies the ban on doing business with Russia! This is a move that could have huge impact on American companies. 35% of AVGO Broadcom revenue comes from China. My price targets from AVGO are $460 and $422. Looking forward to read your opinion about this.
Most semiconductors have lagged recently as technology stocks and the broader Nasdaq-100 struggle. That makes the price action in Broadcom especially interesting. Notice how AVGO is holding its 100-day simple moving average (SMA). In contrast, the Philadelphia Semiconductor index is mired below its 200-day SMA. (See below.) Second, Bollinger Band Width has...
Let's see how it opens, long or short we will decide after seeing the momentum.
I think $AVGO falls post earnings report. Good or bad, it falls to $500+
Earning tmrw could be a parabolic move if it breaks this to upside
AVGO and so many charts are just massive negative looking situations. It all could be nothing but it markets are positioning for these companies to head severely south. Why not pay attention?!?!
Immediate targets 516, 470. Invalidation 778. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels...
Three lower lows and lower highs --- below VWMA (early) - Decreasing volume -- Bearflag setup on daily --- Good volume in the demand zone ++ IF market shows strengths next week, possible that it tests 625 zone, where it runs into big supply. Breakdown there could slide this to recent low near 500.