In this AI Mega cycle there were 2 clear visible winners. 
NVDA and $AVGO. Broadcom (
AVGO) has had a late bull run in the AI super cycle which started in 2022 and was ongoing until Dec 2024. During this tariff-based bear run NVDA is almost down 40%. The same is true for Broadcom. AVGO is also down 40% from the ATH.
But we must investigate the confluence of some more technical indicators on top of the simple % drawdown we see in stocks. The 2 most helpful indicators are the RSI and Fib retracement levels, which can give us some more price levels which we might be looking forward to in the upcoming weeks. The RSI is at 36 on the weekly chart for both the stocksAVGO and $NVDA. But let’s focus on AVGO in this blog. Today we are combining the Gan and Fib retracements levels on the weekly chart of AVGO and we see the clear price levels. We are already at 0.618 Fib retracement which is the price level 145. We closed @ 146 $ on Friday. If we break tis support level, then the next level we are looking at is 121 $ which will be 0.5 Fib retracement levels. If that level is broken, then we are looking at a 100 $ Stock price on $ AVGO 0.382 Fib retracement level.
Verdict: Buy 33% now, buy 33% between 120 $ - 130 $ , buy the rest 33% between 95 $ - 100 $
NVDA and $AVGO. Broadcom (AVGO) has had a late bull run in the AI super cycle which started in 2022 and was ongoing until Dec 2024. During this tariff-based bear run NVDA is almost down 40%. The same is true for Broadcom. AVGO is also down 40% from the ATH. But we must investigate the confluence of some more technical indicators on top of the simple % drawdown we see in stocks. The 2 most helpful indicators are the RSI and Fib retracement levels, which can give us some more price levels which we might be looking forward to in the upcoming weeks. The RSI is at 36 on the weekly chart for both the stocks
AVGO and $NVDA. But let’s focus on AVGO in this blog. Today we are combining the Gan and Fib retracements levels on the weekly chart of AVGO and we see the clear price levels. We are already at 0.618 Fib retracement which is the price level 145. We closed @ 146 $ on Friday. If we break tis support level, then the next level we are looking at is 121 $ which will be 0.5 Fib retracement levels. If that level is broken, then we are looking at a 100 $ Stock price on $ AVGO 0.382 Fib retracement level.Verdict: Buy 33% now, buy 33% between 120 $ - 130 $ , buy the rest 33% between 95 $ - 100 $
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.