1YD trade ideas
Bearish deep crab still in playDespite the earnings pop, as long as it doesn't close above 296.40, the deep crab is still valid. Hit the .382 target once already, looking for it to fall out of that red triangle to start another short. Shorted it at 299 Friday but probably took profit too quickly. Target 265.
AVGO SHORT, opportunity The overall structure is a ABC correction up
Within C we have 5 other waves
The 5th wave is either going to end at the 2: or 2.272, trend based fib extension, which makes 269-270 a very good short opportunity. (Within the red box)
Bearish deep crabGot a weekly reversal off a deep crab that goes all the way back to the Oct crash. Daily 21DEMA already rolling over so PT1 seems pretty solid. PT2 requires a purge in broader markets or earnings disaster. Medium term short due to market's gravity defying nature and overall scope of the pattern.
BROADCOM CORP - KEEP AN EYE ON THIS CHARTMoving in a decline channel, but if broke this resistance line 0,786 FIBO, next wave up will aggressive. Look at the breakout of the $269 and buy for profit!
$AVGO looks tired AVGO looks quite over extended here and it appears buyers are losing steam. Adding this to my short list. Overall market should retrace soon and AVGO should join.
AVGO Weekly Stronger looking chart through this mess. Been tough to buy strength but this could be a decent name to watch if we get follow thru. If not we have some room on the short side till long term trend support.
AVGO - Broadcom Bucking the Sector TrendAs the semi sector continues to be hammered this one is breaking out. The 262 level is an important extension, and an area to look for a reversal and pullback as traders exit long positions. We are looking for a pullback to the 235 level and bullish reversal for a potential swing trade. No sense in chasing, when it is likely we get better prices in the near term. The current candle is showing signs of exhaustion here, no sense in buying into a potential top with the NASDAQ looking like it wants to sell off.
Disclosure: No current positions, looking for a swing trade setup.
AVGO AVGO had a nice break out today. Looks to be headed to the 271 area. However, there is confluence at the 63-64 area so perhaps that might stall this move temporarily. A PB to the 37-40 area is likely if that is the case where a long entry has much less risk IMO.
[AVGO] Phase 4The price is below the 30MM from two weeks ago. But, maybe it's a phase 1 with a clear resistance. What do you think?
Head and Shoulders PT $216 or ≈6%. Also, broke downward out of diamond half mast pattern on 15 min chart today signaling continuation of current trend w/ interim PT of 226. Momentum on hourly suggests renewed negative momentum.
Broke resistance, watch for pullback to $227.65 for a long entry$227 is a key level, the price has broken through and will likely retest before continuing upwards. $227.65 Entry, SL @ $226, TP @ $248
$AVGO Swing trade idea$AVGO Swing trade idea - Nice gap since two days, now its holding 100SMA. Let's wait if it tries to catch 20SMA in next two days. Then our limit price will get triggered.
Broadcom investors still lamenting the CA Technologies acquisitiBroadcom shares are down 15% since the company announced the intention to buy CA Technologies for $18.9 billion in mid-July. Investors are skeptical about the deal. But a few experts believe that the deal will add synergies over the long term as the CA Technologies mainframe business is a cash cow.
The shares are now trading at an attractive valuation of 10 times 2019 earnings estimates. Earnings are expected to grow at a CAGR of 14% over the next five years.
www.finstead.com
AVGO one of the few tech hardware stocks strongAVGO nice earnings beat and guidance. This is a AAPL supplier which might of added to AAPL relative strength Friday. The market sentiment indicators are overly pessimistic right now. That being the case AVGO likely a good continuation trade on market strength.
