Broadcom is preparing to breakout to 241
Daily chart
The stock
AVGO is drawing a double bottom chart pattern between the lines Resistance R and Support S.
The price may re-test the support line S1, then rebound to hit the Resistance line R.
Trading above line R (at around 187) for 2 days, the target will be 241
Technical indicator RSI is supporting this bullish scenario.
Consider the Stop Loss below the ascending line S1; and raise the level as the price goes up.
The stock
AVGO is drawing a double bottom chart pattern between the lines Resistance R and Support S.The price may re-test the support line S1, then rebound to hit the Resistance line R.
Trading above line R (at around 187) for 2 days, the target will be 241
Technical indicator RSI is supporting this bullish scenario.
Consider the Stop Loss below the ascending line S1; and raise the level as the price goes up.
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