Broadcom - This Chart Tells Us Everything!
Broadcom (
AVGO) is retesting massive resistance:
Click chart above to see the detailed analysis👆🏻
For roughly a decade, Broadcom has been trading in a quite obvious rising channel pattern, perfectly rejecting the lower support trendline back in the end of 2022. After the recent rally of more than +200%, it is quite likely that we will now see a substantial move lower from here.
Levels to watch: $250, $150
Keep your long term vision,
Philip (BasicTrading)
AVGO) is retesting massive resistance:Click chart above to see the detailed analysis👆🏻
For roughly a decade, Broadcom has been trading in a quite obvious rising channel pattern, perfectly rejecting the lower support trendline back in the end of 2022. After the recent rally of more than +200%, it is quite likely that we will now see a substantial move lower from here.
Levels to watch: $250, $150
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Broadcom (AVGO):
Click chart above to see the detailed analysis👆🏻
After creating a new all time high exactly at the confluence of resistance, Broadcom is now clearly struggling to keep up with the bullish momentum. It becomes more and more likely that bears will take over and create an expected counter trend correction.
Levels to watch: $250, $150
Keep your long term vision,
Philip (BasicTrading)
Trade closed: target reached
Trading update on Broadcom (AVGO):
Click chart above to see the detailed analysis👆🏻
So far Broadcom did actually not properly reject the obvious confluence of resistance. Everything still remains possible but if bulls keep up with the current strength, it is also a sign that we might see a potential breakout. Monitoring price action now is just super important.
Levels to watch: $250, $150
Keep your long term vision,
Philip (BasicTrading)
Keep your long term vision.
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