Silver Lake Green LightIts go time for long positions on AVGO! SilverLake Investments (global leader in tech investments) just purchased $85 million of open market shares.
The trend line says it all. AVGO is a money making machine. Not to mention AVGO is likely going to make another pass at QCOM now that its in the crossfire of the US-China trade war. If they aren't able to acquire QCOM they will buy another (smaller) company.
AVGO price target of $325
AVGO trade ideas
Broadcom - Price correctionFrom market analysis the price for this Stock - Broadcom - seems it has reached it highest point last December and now is in a correction phase, Elliot wave ABC. Today it has opened with a price GAP which in my analysis seems it is a continuation gap which occurs in the middle of the trend in this case: downtrend.
In my opinion go short and target would be in the are of previous low; 228.
*** This is not an investment advice ***
Broadcom soon to riseThe pink line represents long term trend and the green one a resistance that, if crossed, can signal a bullish trend. Moreover, the company just moved its fiscal domicile a few days ago to the US, so a new attempt of taking over Qualcomm is likely (this time it won't encounter president Trump's opposition).
Feel free to comment and share your opinion.
AVGO great R/R to go long1. 4Hour oversold signal (in the past 1 year have seen a 10-15 point run higher before reversing)
2. Undercut and bounce at 200dma
3. Hammer at 200dma (will need confirmation on Monday)
4. Convergence of couple of trendlines support.
Good R/R to long with a stop under yesterday's lod at 245.
AVGO Nearing Demand ZoneNice fresh demand zone here on the 60min chart. Cautious about AVGO being in a strong down trend on higher time frames though. This move offers about a 7:1 reward to risk so I'm still interested with a slightly smaller position size.
Confidence in the semi-conductor industry thanks to the blockchain boom, regardless of whether this zone holds or not. Let's see what happens!