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AVGO trade ideas

BROADCOM The next expansion wave to $285 has begun.Broadcom Inc. (AVGO) has already completed 2 weeks of gains that essentially recovered the majority of the July-led correction. This rebounded not only largely maintained the long-term Channel Up pattern that started on the October 2022 market bottom but also managed to keep the 1W MA50 (blue trend-line) intact. This is an extremely bullish long-term combination as it should technically start the stocks 3rd long-term expansion wave as illustrated on today's 1W chart. As you can see the previous two peaked at +121% and +133% respectively. As a result our new long-term Target as of now is $285.00 (+121% from the recent bottom). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:AVGOLong
by TradingShot
1
AVGO: Triggers for the next reversal. H & D Charts Analysis.The AVGO chart presents a notable recovery pattern after a sharp decline. On the daily chart (right side), the price experienced a V-shape recovery from the key support level at $130.25, which coincides with the completion of a gap closure. This swift recovery indicates strong buying interest around this level. The price is currently approaching the main short-term resistance at $166.40, a level that previously acted as a support and now poses a significant barrier for further upside. The 21-day EMA (blue line) has started to turn upward, which suggests the possibility of a continuation of the current uptrend if the price can break above the $166.40 resistance level. On the hourly chart (left side), the price is correcting after closing its previous gap. The price is now hovering around the $163.35 level, just below the resistance at $166.40, however, above the 21-hour EMA. The short-term support on this chart is established at $161.30, which aligns with recent consolidation levels. Therefore, teh short-term trend is still bullish. In summary, the AVGO chart indicates a strong recovery with the potential for further upside if the price can successfully breach the $166.40 resistance level. We should watch for a breakout above this level for a continuation of the uptrend, while the $161.30 level + 21-hour EMA serves as critical short-term double support. Only if AVGO loses this area we would see a further decline. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:AVGO
by Nathan_The_Finance_Hydra
4
AVGOPrice is consolidating in the form of symmetrical triangle for the past 2 days after a good trend line break out. 150 will be the trend deciding zone. Higher time frame shows rounding bottom is forming. Lower time frame pattern is neutral. Buy above 155.5 with the stop loss of 154 for the targets 157, 159 and 161. Sell below 152.5 with the stop loss of 154 for the targets 151, 149 and 147. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NASDAQ:AVGO
by vanathi
2
AVGO: This is a Critical Support Level. (D&W charts)AVGO presents an interesting setup on its daily chart, where the price recently encountered a bearish pivot point. This point is marked by a descending trend line and a notable rejection from the highs around 180. The stock has retraced to test the support area near 156.40, which aligns with a previous support zone. The bearish pivot point indicates potential weakness, and the price action will be critical to watch as it trades around this support level. On the weekly chart, AVGO demonstrates a more comprehensive perspective with a double support area at the 21-week EMA and the 143.82 horizontal support line. This area has provided significant resistance in the past, and its confluence with the weekly EMA enhances its importance. If the price triggers the bearish pivot point seen on the daily chart, then this double support area will be our next target. Is there a chance that AVGO will react above the $156 support? Yes, but we need to see bullish signal there, and so far, there isn’t any technical evidence suggesting that. In summary, AVGO's price action is currently testing key support levels on both the daily and weekly charts. The reaction at these levels will be critical in assessing whether the stock can maintain its upward trajectory or if further downside is likely. The intersection of the daily bearish pivot and the weekly double support creates a focal point for us to monitor closely. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:AVGO
by Nathan_The_Finance_Hydra
Cup and Handle Pattern Nearly CompleteI wrote about this in another post, but the chart is easier to see in this one. The cup and handle pattern on AVGO looks nearly complete on the hourly. Looking at the fib retracement, the bottom of the cup bounces nicely off of the 0.5 line, bouncing off of resistance at the 0.786, and the handle seems to be making it's way back up today. If we can get past the $1750 price at the 0.786, with the AI narrative and stock split ahead, I see a potential move up to $2,200 on momentum. The market is certainly due for a correction at some point, but I don't see it happening until later this year. Time will tell, and we'll just have to wait and see what happens.
NASDAQ:AVGOLong
by hufftrade
4