AVGO LT: BULL / ST: BEAR UNTIL NEXT EARNINGS!!
After taking a look into AVGO, I decided to take profit on a CALL Option that was placed last month. I was alerted by this double top / triple top chart pattern which led to the take profit decision. I've placed notes on this chart as you can see.
ALL TIME HIGH (ATH) : 252
After reaching ATH, Broadcom has tried to rest the resistance and has rejected 2 to 3 times over the course of a month. With this 3rd retest and rejection. It is a clear indication of a pullback towards the 200-220 area. I will continue to monitor day to day for any changes in my analysis.
For my scalpers: If you want, you can execute a PUT option with take profit around 220 area.
STOP LOSS: 242
I on the other hand will wait until pull back is drawn then execute another CALL Option. I am very bullish on AVGO, and I see great potential for this company to flourish in the upcoming years.
Feel free to leave any comments on this take about Broadcom.
ALL TIME HIGH (ATH) : 252
After reaching ATH, Broadcom has tried to rest the resistance and has rejected 2 to 3 times over the course of a month. With this 3rd retest and rejection. It is a clear indication of a pullback towards the 200-220 area. I will continue to monitor day to day for any changes in my analysis.
For my scalpers: If you want, you can execute a PUT option with take profit around 220 area.
STOP LOSS: 242
I on the other hand will wait until pull back is drawn then execute another CALL Option. I am very bullish on AVGO, and I see great potential for this company to flourish in the upcoming years.
Feel free to leave any comments on this take about Broadcom.
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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.
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.