Hey traders, **DISCLAIMER** content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. BROADCOM is in a very important moment, it is plausible to see a pull back but that will not really change its rise.
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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$.
Two scenarios are possible, the stock still goes down below 254$...
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.
AVGO, solid company, great future outlook. Look for a break through resistance at $243.94 before you jump in on this stock. It has been rejected twice so far in the last month at $243.94. Tons of room to grow when it breaks through, next stop is at $263.17 (7.88% increase)
White Lines indicate resistance levels
RSI reversing from oversold
Strong bounce from Fibonacci support
3 weeks ago this was a long into earnings but in the current market, risk is just to high.
Wait for report and see if major resistance holds
Right above 100sma on daily, this can be good for a scalp up to the 20sma if it breaks out. Inside doji can be continuation or reversal so just follow it.
Daily and weekly charts looking pretty bullish. Using modified pitchfork from highs and lows you can predict the reversal candle. Take a look, I started with candle 1,2,3 and you can see centerline crosses candle 4 which is the reversal candle. Continuing with 2,3,4 you'll see the centerline hits reversal candle 6. Now 4,5,6 combined (pitchfork&modified schiff)...
Possible breakout opportunity in AVGO.
2 Trade options, (1) trade to resistance & (2) trade the actual breakout.
P/e ratio 47
Average Recommendation: Overweight Average Target Price:$355
20 BUY
02 OVERWEIGHT
12 HOLD
00 SELL
Company profile
Broadcom, Inc. is a global technology company, which designs, develops and supplies semiconductor and...
After earnings last week stock opened strong today' climbing above 320$ resistance on high volume
last few months price consolidated nicely and looks like now its time to move higher
