Positive monthly candle on $AVGOI have been riding this boy since 270. Positive monthly candle on $AVGO .
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1YD trade ideas
$AVGO Broadcom in breakout mode Broadcom is the maybe not as enticing as NVDA or AMD, but it should be. Broadcom invests heavily in diversification and acquisition so it is not dependent on certain revenue streams. It is also in the middle of a massive buyback program which places a floor under the stock.
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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.
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.
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.