AVGO AT MULTI-YEAR RESISTANCEAVGO is ripe and fully priced trading at multi-year resistance. The upside is tiny compared to the risk of falling to support line. Its time!!
1YD trade ideas
AVGO Long Trade 11/10/24Asset Class: Stocks
Income Type: Daily
Symbol: AVGO
Trade Type: Long
Trends:
Short Term: Up
Long Term: Up
Set-Up Parameters:
Entry: 179.24
Stop: 177.21
TP1 183.29 (2:1)
Trade idea:
15Min DBR at breakout,
with a FVG on top
!!Be aware of pending Economic Reports. If price is within 20 pips of proximal value at time of major impact report, then Confirmation entry.
Trade management:
**When price hits 1:1 or T1, consider moving stop to entry in case of pullback.
AVGO Broadcom Options Ahead of EarningsIf you haven`t bought the dip on AVGO:
Now analyzing the options chain and the chart patterns of AVGO Broadcom prior to the earnings report this week,
I would consider purchasing the 170usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $13.70.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Superperformance CandidateMoving Averages in classical uptrend formation
Consolidation Base into a key breakout day
Earnings steadily growing
RS Rating of 95 declaring this a leader
I have reasons to believe that this security price could increase
$AVGO - all time highs insight. $200 PTAVGO - $180 resistance broken at end of the day. all time highs at $185.16. looking for break of all time highs as long as $180 holds. $200 next resistance above $185. Stock is strong on indicator on high watch for upside.
AVGO: This pullback is a buy opportunity.Broadcom is bullish on its 1D technical outlook (RSI = 59.908, MACD = 4.100, ADX = 23.045) as it remains near its All Time High. However it is consolidating as the 1D MA50 is holding. As long as the 1D MA200 supports on the bottom of the long term Channel Up, the long term action is bullish. Aim for at least a +122% rise (TP = 285).
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Can Anything Stop Broadcom?Broadcom has been one of the top-performing large cap stocks this year. Now, after a period of consolidation, some traders may see potential for further upside.
The first pattern on today’s chart is the August 19 close of $167.71. AVGO initially stalled at this level and struggled to cross it in the first half of September. But it broke out later in September, and this month is trying to hold it. That may suggest that old resistance has become new support.
Second, the recent low was near the rising 21-day exponential moving average (EMA). The 8-day EMA is also above the 21-day EMA. Is a new uptrend developing in the chip stock?
Third, MACD is rising.
Finally, you have the June low of $130.25. Prices couldn’t stay below it when the broader market crashed on August 5. AVGO then proceeded to make a higher low the following month. Those signals may confirm a longer-term uptrend.
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Two Way Setup (BUY / SELL ) - AVGO - Watchlist1. Look at during the Market open on Monday (Sep 30)
2. Buy / Sell depending on the momentum.
3. Target defined in the chart.
AVGO .. looks reversal ... AVGO 5 day moving average is the key
AVGO 5 day moving average is the key
AVGO 5 day moving average is the key
AVGO, Time to go?Plain and simple, we broke above the trendline, price tried retesting it a few times but failed, since it tested to 200 EMA, price has been very strong, and we are again at the failed price point.
Above 172.30 we can quickly see 184.80
AVGO LONGAVGO stock has recently broken out of its accumulation range, signaling a strong bullish shift. After several weeks of sideways movement, the breakout suggests that institutional investors have accumulated shares, indicating confidence in the company's fundamentals.
This clear spring into Phase E of the Wyckoff accumulation pattern highlights the stock's potential for a significant upward move. The increased volume accompanying the breakout reinforces the notion that buyers are stepping in, ready to propel the price higher.
With positive trends in the semiconductor sector and AVGO's strong financials, including solid earnings growth and strategic partnerships, the stock could see a sustained rally. As the market recognizes its value, AVGO is well-positioned to attract more investor interest, making it an appealing opportunity for bullish investors.
Broadcom (AVGO) – Decision Point Near Major ResistanceBroadcom ( NASDAQ:AVGO ) is approaching a critical level with a potential double bottom pattern in play. The stock is facing strong resistance at $167.50, where both horizontal resistance and the descending tops trendline converge. Breaking through this key zone could lead to a run toward the all-time high of $188.33.
On the other hand, support remains firm with rising lows and backing from the 200-day moving average. This keeps the bullish case alive, but we’re likely to see the stock consolidate into a tighter range ahead of the earnings report at the end of the year, which could serve as the catalyst for the next big move.
I’m watching for a clean breakout above $167.50 or a retest of the support around the rising trendline for possible entries.
Do you think Broadcom can break out before earnings, or is a retracement more likely?
AVGO looking like it wants to breakIf this can mount 172.42 super bullish. Would break a double bottom neck line maked with the orange circles
Interesting formation now does it break and test the higher low?After a big bounce from 130s, it still has room to run, with resistance fast approaching and with the volatility this stock has, it could be a quick push to 175.
Technical Analysis of Broadcom Inc (AVGO)The stock ( AVGO ) is in a long- and medium-term uptrend.
In the short term, it is undergoing a retracement phase, having been rejected twice by the POC 1, which reflects the volume area starting from November 2023, when the latest uptrend began.
After the second rejection from POC 1, which confirms its strength, the price is heading towards the $171 area, corresponding to a second volume zone, POC 2. This area acts as resistance, having already rejected the stock once, and we will see if it holds again.
To summarize, in the short term, the stock is retracing, using POC 1 as support and POC 2 as resistance. This phase has resulted in lower highs and higher lows, forming a pattern known as a symmetrical triangle.
The symmetrical triangle is generally considered a continuation pattern, meaning that the breakout often (but not always) occurs in the direction of the trend prior to the triangle's formation. However, it can also signal a consolidation phase or market indecision.
Interpretation:
Bullish Scenario: If the price breaks the resistance (the descending trendline of lower highs) and moves above POC 2, this would be a bullish signal.
Bearish Scenario: Conversely, if the price breaks the support (the ascending trendline of higher lows) and moves below POC 1, this would be a bearish signal.
It is important to confirm the breakout with an increase in volume, as a breakout without strong volume may indicate a false signal.
Dark Pool Support of the Market PatternNASDAQ:AVGO had a Push reversal followed by a moderately sized white candle = Dark Pool Support of the Market followed by pro traders buying and then some investors buying as well.
Can you see the systematic, aka controlled, buy zone?
AVGO: This is a CRITICAL support level! (D&W analysis)Looking at the daily chart of AVGO, we observe a hammer candlestick pattern forming after an exhaustion gap, signaling a potential reversal. This hammer, typically seen at the end of a downtrend, indicates that the sellers may be exhausted, and a reversal could be on the horizon. Additionally, the gap left behind earlier this month has been almost filled, which often acts as a catalyst for a shift in market sentiment. The key resistance level is the $150.11 zone, which, if broken, could suggest further upside towards $172.42.
On the weekly chart, AVGO remains supported by a long-term ascending trendline that has held through recent pullbacks. The price also shows a bounce from the 21-week EMA. If the hammer on the daily chart leads to sustained upward momentum, it could trigger a continuation of the broader uptrend seen on the weekly timeframe. However, if the price fails to maintain support around the trendline, a deeper correction could ensue, with the next major support level around $130.25.
In summary, the daily chart suggests a potential short-term reversal after an exhaustion gap and hammer pattern, while the weekly chart maintains a bullish structure as long as the trendline and 21-week EMA continue to hold.
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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.
Double bottom on AVGO daily? 🔉Sound on!🔉
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BRODCOM LONG 126-116 Target 170 BRODCOM LONG 126-116 Target 170
Rambus Yearly Breakout 68
Rambus 6 Month DMIP 59
Rambus Qtrly Demand 116
Rambus Monthly Demand 128
Rambus Weekly Daily 126-116
Broadcom Stock Struggles After Disappointing EarningsBroadcom ( NASDAQ:AVGO ) Faces Challenges Post Earnings: What Investors Need to Know?
Broadcom Inc. (NASDAQ: NASDAQ:AVGO ), a key player in the semiconductor and software sectors, has seen its stock tumble after the company reported a loss in its fiscal third-quarter earnings. The loss was primarily attributed to merger-related expenses and amortization costs associated with its recent acquisition of VMware. Here, we dive into the fundamental and technical aspects of Broadcom’s stock, analyzing the challenges and opportunities that lie ahead.
Earnings Report Highlights:
- Broadcom swung to a net loss of $1.875 billion in its fiscal third quarter, compared to a profit of $3.3 billion in the same quarter last year.
- Adjusted earnings, which exclude significant acquisition-related expenses, came in at $1.24 per share.
- The company’s revenue for the quarter met expectations, but its forward guidance of $14 billion for the fiscal fourth quarter fell just shy of analyst predictions.
- CEO Hock Tan emphasized the continued strength of Broadcom’s AI-driven semiconductor solutions, noting a projected $12 billion in AI-related revenue for the full year, driven by ethernet networking and custom accelerators for AI data centers.
Merger Impact:
The recent acquisition of VMware has added significant restructuring costs to Broadcom’s financial statements. The integration of the software firm is crucial for Broadcom's long-term strategy of diversifying its revenue streams beyond semiconductors, particularly as it aims to capitalize on the rapidly growing demand for AI and data center solutions.
Market Reaction:
Broadcom’s stock dropped over 6% in after-hours trading following the earnings release. Despite this pullback, the stock has risen approximately 40% year-to-date, benefiting from the market’s appetite for AI-related growth stories. However, the recent dip underscores investor concerns about the near-term impact of acquisition-related expenses and the company’s modest revenue outlook.
Technical Analysis
Symmetrical Triangle Breakdown:
Broadcom’s stock has been consolidating within a symmetrical triangle pattern on declining volume since mid-June, a formation that often precedes a breakout or breakdown. The recent disappointing revenue outlook has pushed the stock below the triangle’s lower trendline, indicating a bearish breakdown that could signal the start of a new downward trend.
Key Support Levels to Watch:
1. $141 Level: This level is near a consolidation zone that formed between March and June, marking the first potential area of support. If this level holds, it could provide a buying opportunity for investors looking for a near-term bounce.
2. $120 Level: Should the stock fall below $141, the next significant support lies at $120, an area aligned with prominent swing lows from earlier in the year. This level could attract buyers who see the pullback as a chance to enter at a more attractive price.
3. $110 Level: Further downside could take Broadcom to $110, near the low of a retracement that occurred in early January following a strong December rally. This level could serve as a critical test for Broadcom’s longer-term uptrend.
RSI and Market Sentiment:
Currently, Broadcom’s Relative Strength Index (RSI) hovers around 40-45 in premarket trading, placing the stock in oversold territory. This indicates that the recent sell-off may be overextended, potentially setting up the stock for a short-term rebound. However, the broader sentiment remains cautious given the company's near-term financial headwinds.
Outlook for Broadcom: Is the Stock a Buy, Sell, or Hold?
Broadcom's mixed earnings report and subdued revenue guidance have introduced a degree of uncertainty into the stock’s near-term trajectory. While the company’s ongoing integration of VMware and its focus on AI and data center solutions present long-term growth opportunities, the immediate impact of acquisition costs and a lukewarm revenue outlook have weighed heavily on investor sentiment.
For those with a long-term investment horizon, the current pullback could present a buying opportunity, especially if Broadcom ( NASDAQ:AVGO ) manages to stabilize at one of the key support levels mentioned. However, traders should remain vigilant for potential further downside, particularly as the stock navigates the aftermath of its recent technical breakdown.
In summary, Broadcom’s fundamentals remain strong, underpinned by its leadership in AI-driven semiconductor solutions. However, the stock’s technical indicators suggest caution is warranted in the short term. Investors should watch closely for signs of stabilization before committing new capital, particularly given the broader market's current volatility.
