AVGO Setup for LongAVGO 1H Setup
1- trend is bullish
2- trend line is respected many time
3- current support is between 598 - 594
4- next resistance is at 627
5- if price go up to 599 then enter the trade and ride till 625
7- if price goes down then next entry point is at 594
8- Entry points for long calls only:
-Zone1: 598-600
-Zone2: 580-594
AVGO trade ideas
AVGO Setup, wait for the price to come at entry point- Overall trend is bullish
- 1st point of entry is at 588 and then the price may go up
- 2nd point of entry is at 564 and then the price may go up
- 3rd point of entry is at 548 and then the price may go up
Resistance is at 608, so you can expect the price to go till that level
AVGO - bearish move short-termAVGO has been in a short-term uptrend. However it looks that the price is approaching the key resistance. We expect that the stock price may decrease in the coming period.
Therefore, we recommend taking a short position when and only if the price breaks the upsloping trendline that has been acting as a support. Once the price breaks this support , we can enter a short position, however it’s also possible to enter short when the price bounce back up and retests the trendline, get rejected and confirm it as a resistance.
When we look at the RSI, we see that there is a regular bearish divergence. That divergence shows the buyers exhaustion therefore there is a high probability that the price of the AVGO will go down in the next few days. We recommend closing to the short at 0.618 Fibonacci point. Target is shown on the chart.
Bearish to upper 400sNeeds to breakdown below 552 to set this in motion, but a few gaps to fill to downside and upside has run its course for now.
Initial target range in coming weeks is 492-520 (point target 505)
Goal target is around 475 where it will accumulate and form right shoulder of larger accumulation structure around the 2022 low. From the right shoulder it will begin next bullish cycle to new all time highs.
AVGO Broadcom Options Ahead Of EarningsIf you haven`t sold AVGO`s exposure to China:
Then looking at the AVGO Broadcom options chain ahead of earnings , i would buy the $515 strike price Calls with
2022-12-16 expiration date for about
$7.60 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
Break Up From Channel DownJust when you thought the semiconductor trade was over! LOL
Price has broken up from the channel down.
Down from a symmetrical triangle but appears to have been resuscitated and is breathing today.
Target 1 to the downside met.
No recommendation.
W pattern with valley 2 lower than valley 1.
AVGO: Support Retest LikelyIts very possible that AVGO will be heading back to the 400 levels after rallying up to the resistance levels in the ~520s. Semis have had a strong run and the bounce on AVGO has been fairly significant without any convincing establishment of support levels on the way up. With this and the upcoming economic catalysts, its likely that a significant retrace is on the way.
Alternatively, there is the chance of a bullish continuation so this is a trade that needs to be quickly closed if it begins to breach the current resistant levels.
AVGO: Head and Shoulders?Broadcom
Intraday - We look to Buy at 457.26 (stop at 435.69)
A bullish reverse Head and Shoulders is forming. This is positive for sentiment and the uptrend has potential to return. The measured move target is 512.00. Dip buying offers good risk/reward.
Our profit targets will be 510.99 and 530.00
Resistance: 512.00 / 574.00 / 670.00
Support: 450.00 / 350.00 / 260.00
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ButterflyBullish.
Butterflies are often found at tops and at bottoms.
The butterfly should terminate close to the 1.272 of XA. This one was a bit shy of the 1.272.
The 2nd leg, the retracement should be close to the .786 of XA.
Peak 2 is lower than peak 1. It is a crooked M.
There is no pocket pivot noted at this last leg yet price gapped up.
In a perfect world targets for this pattern would be a the white lines I drew.
I am not sure this is a perfect world though.
This broke down from a triangle and the bottom trendline of that triangle could act as resistance.
No recommendation.
The butterfly is an extension pattern and the final leg ends below X in the bullish version.
It is also considered a price exhaustion pattern.
Target 1 level can also cause some resistance and sometimes all you get is T1 )o:
Every stock is different just like everyday in this market can be different.
Bouncing on POCAVGO has returned to its post-March 2020 point of control.
Stepping down a time frame to the daily chart, we can see a cluster of Dojis. Combined with volume falling under the 50day average, MACD crossing its signal, and Stoch recovering from oversold shows hesitation in the selloff.
An aggressive trade would be to enter now, while a more conservative entry would be above the support or resistance zone just north of the 21EMA.
AVGO 481Timeframe: Multi-month swing
Last week AVGO retested and rejected the weekly 10MA yet again and sold off rather quickly. I'm targeting price to eventually make it to 481 over the next month or two. For the last 3 weeks we have yet to get above the golden zone around 594-598. We have also yet to close above the weekly 10MA for 10 weeks.
How to play this?
• I'll be looking for price to cross 539.72 to signal that AVGO would like to go lower in the coming weeks. If price never crosses below that level this week then we can play the upside.
• Once the trigger hits I would be getting in to take it to 531.
Trigger (539.72) then reversal plan:
• I would look for a bearish reversal pattern on the daily around 558 and 562 to take it short.
Things to look out for:
• Be aware that price can cross 539 this week, reverse to 558, and then reverse again the following week.
• Short term I could see some upside retracement to 558-562 to retest last week's price area. There is very strong supply at this level as it is the bottom of the VWAP (from April 2022). This means a lot of folks are holding the bag and they might be anxious to get out at that level.
Short Invalidation/Bullish:
Short invalidation area is at 576.27. At that point I would take it up to 583, 594 then 598 (golden fibs).