Downswing expected in AVGO, watch out!
Hey everyone! Hope you had a wonderful christmas and wishing you all the best for 2022. Today I also wanted to take a look at AVGO. I’ll keep this one short for you. Personally I would hold off on investing in AVGO since the chart looks quite risky right now. As you can see the price is trading far from its downtrend line and getting close to the upper resistance level of the uptrend channel (although this uptrend line has only been touched once so the uptrend line has not been strongly confirmed). Furthermore RSI is also giving overbought signals, with weekly RSI going as high as 80. A short-term downswing can be expected to take place pretty soon. If you made it this far I’d like to sincerely thank you for reading this and hope you have a wonderful day. Any feedback (whether positive or negative) or likes are of course really appreciated. Have a good one ✌️!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.