AVGO - Continuation of movement within the ascending channel + potential for a breakout to new historical highs. 🔍 Rationale:• After a strong correction in the first quarter of 2025, the price formed a reversal and has been moving in a clear ascending channel since the beginning of May.
• The channel support and resistance are clearly being worked out, the price is steadily bouncing off the lower border.
• Bollinger Bands show a narrowing - momentum is possible.
• Trading volume is stable, there are no signs of a strong sell-off.
Trade active
Decent chances of reaching the target.The price maintains a bullish structure and continues to consolidate above key support levels. With steady backing from the semiconductor sector and growing interest in AI infrastructure, AVGO remains in the spotlight for investors.
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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.