Broadcom Inc. (AVGO): Bearish Momentum Near Resistance๐ฅ Potential Price Targets (Next Month):
๐ฉธ Near-term Goal: $220.00
๐ฉธ Long-term Goal: $215.00
๐ฅ LucanInvestorโs Strategy:
๐ฉธ Long: Above $231.20, targeting $240.00 and $250.00. Bullish confirmation needed with stronger volume.
๐ฉธ Short: Below $229.31, aiming for $220.00 and $215.00. Weak MACD and declining volume suggest a bearish continuation.
๐ฅ LucanInvestorโs Commands:
๐ฉธ Resistance: $231.20 โ A breakout is unlikely without strong buying pressure.
๐ฉธ Support: $229.31 โ A breakdown could confirm further downside toward $220.00.
Analysis:
Broadcom faces mounting bearish pressure near $231.20. With MACD signaling weakness and volume declining, traders should be cautious of a potential breakdown below $229.31. Watch for downside opportunities if support fails.
๐ "The market rewards clarity, not hesitation." โ LucanInvestor