Alright, let’s zoom into Broadcom (AVGO) on this hourly chart! The stock’s been cruising in a solid uptrend since last August, making some nice gains along the way. But lately, it’s hit a bit of a speed bump, slipping into a corrective wave and forming a clean descending channel. Here’s where it gets juicy—AVGO just carved out a head and shoulders pattern right at the main uptrend line, which also lines up with the support of that descending channel, sitting around $191.40 as of March 13, 2025. That’s a double whammy of support! With the price chilling at this key spot, it’s looking pretty interesting for a potential consolidation or even a price reversal to the upside. The setup’s got some good vibes, so let’s keep an eye on it to see if the bulls step up to the plate!
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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.