Broadcom (AVGO) is triggering a powerful breakout todayNASDAQ:AVGO – High Tight Flag + Range Breakout Setup
Broadcom ( NASDAQ:AVGO ) is triggering a powerful breakout today with two bullish patterns stacking up — a high tight flag and a larger range breakout.
🔹 High Tight Flag Breakout
Price action has been coiling tightly just under recent highs — a textbook high tight flag formation.
These setups often lead to strong continuation when they break with volume.
🔹 Range Break in the Works
We're now pushing through the $233–$234 zone, a key resistance level that has capped price recently.
A breakout here opens the door for a major trend continuation.
🔹 My Trading Plan:
1️⃣ Position: I’m playing the $235 calls for next week.
2️⃣ Entry Trigger: Breakout through the $234 level with volume.
3️⃣ Stop Loss: Stop will be based on intraday price action — likely below the 9 EMA or breakout level to manage risk.
🔹 Why This Setup Has Juice:
Strong consolidation near highs is a sign of strength, not weakness.
This is the kind of pattern where institutions start piling in.
Dual setup (flag + range breakout) increases probability of follow-through.
⚠️ Risk Management: Tight stop under breakout zone — manage risk, stay nimble.
