Key Takeaways:
- Broadcom ( NASDAQ:AVGO ) shares have reclaimed their 50-day moving average after a steep correction but face volatility ahead of the upcoming Q3 earnings report.
- Investors are focusing on Broadcom's AI chip sales growth and its full-year outlook amid rising AI demand.
- Key technical levels suggest potential volatility, with both downside and...
Broadcom Inc is overbought on the 1D technical outlook (RSI = 75.003, MACD = 23.960, ADX = 31.411) but on the long term it is only testing the middle of the 1 year Channel Up pattern. This recent rally was initiated after the 1D MA50 held on December 6th. If the middle of the Channel Up breaks, we will go long and target the top (TP = 1,300) as it could be a...
AVGO is trading inside a Triangle pattern on a bullish 1D time frame (RSI = 62.459, MACD = 29.570, ADX = 26.143) supported by a HL trendline since October 14th 2022. The way the Triangle breaks to will most likely reveal the next medium term direction.
Under it, we will sell and target the 1D MA100 (TP = 760.00) while over it, we will buy and target the 1.5...
