AVGO ready to GO Broadcom is challenging the upper boundary of a well-defined rectangle. Rectangles narrower than 15% of the underlying value of the asset is my absolute favorite pattern.
1YD trade ideas
Broadcom (AVGO) - Just an ideaWhile lagging indicators are cooling off (RSI/MACD on Weekly) it remains to be proven if AVGO makes it further up or swing failures the highs.
Overall, I am looking to take a short from the upper zone if given.
Could she dump from right where she is? In theory yes, but in that case my count(s) are wrong.
📈📊 #ChartPattern Alert! 📈📊 📈 Rising Wedge 📈📈 What is a Rising Wedge? The Rising Wedge is a bearish chart pattern characterized by two converging trendlines, with the lower trendline sloping upward more than the upper trendline. It typically signals a potential bearish reversal, with the price likely to break downward after the wedge pattern.
📈 How to Identify:
Draw a trendline connecting at least two lower highs (upper trendline).
Draw another trendline connecting at least two lower lows (lower trendline).
📈 What it Signals: The Rising Wedge suggests a potential bearish reversal, with sellers prevailing at lower highs within the wedge. It often forms during uptrends and can precede a significant price move to the downside.
📈 Trade Strategy:
Consider short-selling or setting stop-loss levels if the price breaks below the lower trendline of the Rising Wedge.
Set profit targets based on the pattern's height subtracted from the breakdown point.
Implement a stop-loss to manage risk in case of a false breakdown.
Remember to use other technical indicators and conduct thorough research to support your analysis before making any trading decisions. Happy charting and trading! 📉💹
See Broadcom over $1000 by EOYUsing TA that includes Elliot waves and fibs... I believe Broadcom will finish the year strong over $1000.
BROADCOM Straightforward plan with an eye on the break out.AVGO is testing the Resistance (1) level (925) of the 4 month Rectangle pattern.
This is a short term sell signal unless it crosses upwards.
The Rising Support trend line has been holding the long term bullish trend intact for 1 year exactly (October 13th 2022).
Trading Plan:
1. Sell as long as the candles close under Resistance (1).
2. Buy if one closes over it.
Targets:
1. 840 (Rising Support).
2. 1077 (Fibonacci 2.0 extension).
Tips:
1. The RSI (1d) crossed above its Rising Resistance. Potential signal, in combination with holding the Rising Support, that a long term break out is ahead.
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AVGO long positionAVGO looks interesting.
Let´s enter a long position and wait for the price to achieve the target.
Our predicted target is 921.73 $
Stop loss and target lines are indicated on the chart.
Good luck!
ASCENDING TRIANGLETop line virtually flat with a resistance line that has been tested x 4.
Each touch of a support or resistance line strengthens the level.
Neutral pattern until broken.
No recommendation.
"Even if you are on the right track, you will get run over if you just sit there."
Will Rogers
AVGO and SOXS Preparing to Move BigSOXS the 3x Inverse ETF for Semiconductors, has broken out of a Bullish Head and Shoulders and now sits at the 89EMA. If things go as expected, SOXS should be clear to at least give us a 60-150% rally. At the same time, we also have a Bearish AB=CD on AVGO and what looks to simply be filling of a gap it made at $830 after breaking below its own slanted Bearish Head and Shoulders neckline as seen here:
If things go as I expect them to, we will see AVGO open the week to aggressive downside with minimum overall targets as deep as 50% below current prices.
Bearish Alert : AVGOBearish Alert, with attempt of negative price action and bearish crossover of EMA 21/50
The last crossover moved the price up by 90%
AVGO - gaps down on rumor of Google changing suppliersNASDAQ:AVGO had a volatile premarket and a gap down on open on the news of NASDAQ:GOOG cutting them as a supplier.
www.reuters.com
This kind of news pops up for chip suppliers and rarely amounts to much.
The gap down closed the small gap from 8/21. If we take a measured moves of the gap from the most recent highs we could see price move in a new range that comes down to ~765, or even ~720. The 720 range would fill the gap from May.
I anchored a VWAP to the March 13 candle. This candle was the first test of the March gap up and established the consolidation range that took place for the next two months. This VWAP coincided with the low during the premarket selloff. It will be important for this level to hold as support otherwise we could see a test of the VWAP from the November 2022 gap up or the VWAP from the end of the October drawdown. Note that each of these are displaying confluence with the 200SMA and the bottom of the larger measured range down. All of which are below the opening of the May gap.
My game plan from Aug 8 remains in place.
My first buy orders target hit during pre-market and my remaining at ~750 and ~730 are still in place.
Broadcom: Gather momentum! 💪Broadcom stock is in a downtrend, but we believe this is part of the current substructure that should end soon. The turquoise five-part move should still reach around $1040 in the long term.
However, it is essential to remember that the stock would fall further if it breaks below the support at $812, which we consider 36% probable.
AVGO clearly in a corrective structure to the downside .AVGO should have a nice buying opportunity soon once this corrective C-wave down completes.
Broadcom (AVGO) -> Stronger Than NvidiaMy name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks , crypto , options and indices 🖥️
I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise.
This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on Broadcom.
Over the past 12 months Broadcom stock rallied more than 120% towards the upside, following the major hype in the whole semiconductor and AI sector.
After this recent pump it is quite expected that we will see a short term correction and if Broadcom retests the previous all time high at $630, this will be a perfectly bullish setup.
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I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.
Keep the long term vision🫡
AVGO Broadcom Options Ahead of EarningsAnalyzing the options chain and the chart patterns of AVGO Broadcom prior to the earnings report this week,
I would consider purchasing the 900usd strike price Calls with
an expiration date of 2023-9-8,
for a premium of approximately $21.10.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
AVGO pre-earnings updateNASDAQ:AVGO pre-earnings update. This is a large long-term holding for me and it has been one of my best performers. I am not looking to add at this time and would be taking profit if my cost basis wasn’t already so favorable.
There is a lot to like about AVGO. Great dividend growth history, consistently outperforming earnings expectations, strong management team, and very easy to manage with basic technical analysis. They report earnings late in the cycle relative to other semis, which occasionally offers great opportunities when other chip companies have poor earnings.
Bull thesis - they excels in operating efficiency, have strong management team, and strong Apple hardware integration
Bear thesis - large exposure in in nonmoaty sectors (broadband and storage chips), low-growth software markets, and acquisition-focused strategy
Last earnings:
Good: Revenue beat, EPS beat, and increased guidance by 5%.
Bad: Management was asked about AI related growth cannibalizing current business. Management had a relatively weak answer to this that sent price on a roller coaster.
Average 12 month price target consensus increased from $763 to $908.
To keep momentum going this earnings will likely need to beat and raise guidance in line with others in the sector, and will need to give clearer direction on product cannibalization.
Technical:
This is a great long term trend, but price has moved above the primary trend along with the entire sector. This will either be a new primary trend or will prove to be unsustainable. It feels like the latter, but sentiment for the AI narrative has been resilient.
Last earnings price jumped with a breakaway gap and then formed a symmetrical triangle. 75% of breakaway gaps close within a year and the average time to close is 83 days. AVGO's gap is currently at 96 days. Price broke below the cradle of the symmetrical triangle and left another small gap in its recovery. Longer term, I'm still eying opportunities to add below $820. My targets are currently $808, 790, 750, and 730.
$AVGO - Tale of Topping Tail?NASDAQ:AVGO - Great company, however chart is whispering a tale of topping tail.
Was that a topping tale on high volume or just a false alarm, well time will tell. In the meantime your thoughts?
Market Leaders are FailingEvery bull market has a “theme” – a specific sector or group of stocks that lead the rest of the market. In the last '90s it was dot-com. From 2009-2020 the theme was big tech. The short-lived bull from 2020-2021 was driven by work-from-home stocks.
This market has had a theme too. And that theme is artificial intelligence.
Stocks with exposure to AI have been the top performers in 2023. Meta, Nvidia, Super Micro Computer, MongoDB, and several others have all seen spectacular gains this year.
These are the market leaders… the institutional favorites… the Wall Street darlings… whatever you want to call them.
When these stocks begin to pull back, the rest of the market does too. So, we always want to keep an eye on them.
Last week, leadership began to weaken. NVDA, MDB, AAPL, AVGO and others closed below their 21-day EMA for the first time in months.
When leading stocks dip, we want to see them bounce immediately. We want to see them act like tennis balls, not eggs.
They didn’t.
And as expected, the selling continued throughout the week. The Nasdaq index closed firmly below its 50-day moving average for the first time since January.
Make no mistake - I still believe we are in a bull market. If I were a long-term investor, I would hold through what will likely be a short-term pullback.
But as a trader, my goal is to make as much as I can when the environment is favorable, and the the heck out of the way when things turn south.
This is 'get the heck out of the way' time.
Although the indexes have only pulled back 5-6% so far, many of the big names have fallen 20% or more over the last several weeks. The indexes are generally a poor gauge of growth stock performance. However, the action in growth stocks is often a precursor to what we will see next in the general market.
Hopefully, this retracements is temporary. We have not yet seen broad-based selling on above average volume, and that is a good sign.
Pullbacks are normal. Stocks do not go straight up. When prices rise too much too fast, they need to “reset” in order to digest the price action and knock the froth off the market.
Smart traders will use these periods as a proving ground for the top stocks. Which names hold up the best? Which tickers pull back the least and do so on the lightest volume?
These will be the winners on the next leg higher.
I try my best to scan enough stocks to try and get a feel for where money is flowing. Often you will see a group or two surging while the rest of the market is pulling back. Right now, only two areas stand out:
The first is oil and gas stocks. These have performed very well over the last few weeks. It is too soon to say if this will develop into an overarching theme, but I am keeping an eye on this group and bought a couple stocks to test the waters.
The big cryptocurrencies are also showing a lot of strength here. Bitcoin and Ethereum, which I trade via the GBTC and ETHE exchange traded funds, looked poised for breakouts higher. They are showing a lot of strength right now when not much else is.
AVGO update - $855 a key levelNASDAQ:AVGO has consolidated and built a strong volume profile since its rapid climb to the $800's in May. Recall in May that it gapped up with a breakaway gap and completed a measured movement. It recently broke out of a symmetrical triangle and completed a measured movement from that pattern. Price action returns the the cradle of the symmetrical triangle ~60% of the time.
I'd like to see price action remain above the cradle of the pattern and above the VWAP from the low of the pattern. It will be concerning if this level doesn't hold as we have an airgap in the volume profile, potential to fill the May gap, and potential to retest the golden ratio in the $695-705 range.
My game plan:
- Take profit if we fall to $845, which is 50% of a 20 period ATR below the cradle of the triangle
- Four accumulation targets: $790, $750, $730, $705 which represent the 0.382 and bottom of the patter, the top and bottom of the gap, and the golden ratio
AVGO: Bullish Pennant, confirmed (29,16%)(10/1000)(10/1000)
Confirmed Bullish Pennant pattern for AVGO.
29.16% possible gains.
Pros:
1- PPS above 50MA and 200MA
2- RS above 0 and climbing
3- R/R ratio above 5
4- 250RSI above 50 and climbing
5- 50MA above 200MA
6- Both 50MA and 200MA ascending
7- Golden cross circled in blue
8- Descending volume during flag forming
9- Volume during post forming
10- Break out with volume
Cons:
1- ATR descending, less volatile
Target price is 1048,47$
Stay humble, have fun, make money!
MAAX
Long Time No SeeHow are you all?
It's been a long long time since I have posted anything here.
I was busy with lots of stuff and it kept me off the markets for a while.
But now that I am back, I will try and post more here....
But this time it won't be just Indian equities, instead we will look into US and European markets as well.
Let me know what you think about this chart.
I would love to discuss this at length.
Make sure to comment your thoughts.
Symmetrical TriangleNeutral until broken with a trend in that direction.
The Williams Alligator indicator is a technical analysis tool that uses smoothed moving averages.
The indicator uses a smoothed average calculated with a simple moving average (SMA) to start.
It uses three moving averages, set at five, eight, and 13 periods. The three moving averages comprise the Jaw/blue, Teeth/white, and Lips/red of the Alligator.
The indicator applies convergence-divergence relationships to build trading signals, with the Jaw making the slowest turns and the Lips making the fastest turns.
The moving averages are in order today with the lips being on top.
AVGO reached a high of 921.78 but price was quickly rejected as evidenced by a long candle wick.
No recommendation.
No recommendation.
AVGO: Is about to give a breakout signal. Follow it.AVGO is trading inside a Triangle pattern on a bullish 1D time frame (RSI = 62.459, MACD = 29.570, ADX = 26.143) supported by a HL trendline since October 14th 2022. The way the Triangle breaks to will most likely reveal the next medium term direction.
Under it, we will sell and target the 1D MA100 (TP = 760.00) while over it, we will buy and target the 1.5 Fibonacci level (TP = 990.00).
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The chip war begins.In the world with semiconductors, there was no particular expanse anyway. And now, against the backdrop of heightened tensions between China and the United States over restrictions imposed by China today on foreign exports of raw materials such as gallium and germanium, chip prices will rise even more. This means it is necessary to buy shares of semiconductor manufacturers. I didn't mess anything up?
