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Avgosignals

BROADCOM made a Top on the 2year Channel. Potential danger aheadExactly 1 month ago (November 18, see chart below) we gave the buy signal on Broadcom Inc. (AVGO), which turned out to be a big success as shortly after the stock catapulted past our $223 Target: This time however we share with you an analysis that is calling for profit taking on this amazing rally as technically it is coming to an end. The price hit yesterday the top (Higher Highs trend-line) of the 2-year Channel Up, which has approached another 3 times during that time. As you can see, the pattern's structured Legs and Phases are cyclical and repeat themselves. The current Top seems to be similar to the previous Highs (orange circles) that initiated the re-accumulation phases before resuming the uptrend for the final top (red circles) of the Bullish Leg. Both of those pre-Top Highs (orange circles) and their re-accumulation phases that followed, touched the 1D MA200 (orange trend-line) before the final rally of the Bullish Leg. As a result, we won't turn bullish again on AVGO until it tests the 1D MA200 again, which given the aggression of the recent pump, the pull-back could be equally strong. After the re-accumulation Phase is completed, we will resume our long-term bullish Target of $285.00. That represents a +121.85% rise from the August 05 2024 Low, which is the % rise that both previous Bullish Legs had. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:AVGO
by TradingShot
5
BROADCOM Best buy opportunity since September for $223.Broadcom Inc. (AVGO) hit its 1D MA100 (green trend-line) on Friday for the first time in more than 2 months (since September 11). This is the best buy opportunity since then as the dominant pattern remains the Bullish Megaphone. On top of that, it appears that we are currently within a Bull Flag, similar to the one that was completed when the 1D MA100 was hit and held last time on April 19 2024. The 1D RSI sequences between the two fractals are also very similar. That Flag initiated a price rebound above the 2.5 Fibonacci extension. As a result, we turn bullish on AVGO again, targeting $223.00. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:AVGOLong
by TradingShot
3
$AVGO PRE-EARNINGS DIP BUY Broadcom ( NASDAQ:AVGO ) has an upcoming earnings report scheduled for Dec.5 This also happens to be a stock that investment power house Nancy Pelosi is currently holding a position in and with the rise of similar stock $NVDIA earlier today, I suspect NASDAQ:AVGO to have enough catalyst fuel to power this Daily time frame dip buy opportunity off of the 22EMA. I plan on entering this position tomorrow IF NASDAQ:AVGO goes green on the daily time frame AFTER a bearish start to the morning to take out any left over liquidity (previous-day lows, post-market lows, pre-market lows) and I plan to hold this buy position anywhere between 1-4 weeks depending on how the daily time frame CLOSES along the way... No Price targets.
NASDAQ:AVGOLong
by CJITM
BROADCOM The next expansion wave to $285 has begun.Broadcom Inc. (AVGO) has already completed 2 weeks of gains that essentially recovered the majority of the July-led correction. This rebounded not only largely maintained the long-term Channel Up pattern that started on the October 2022 market bottom but also managed to keep the 1W MA50 (blue trend-line) intact. This is an extremely bullish long-term combination as it should technically start the stocks 3rd long-term expansion wave as illustrated on today's 1W chart. As you can see the previous two peaked at +121% and +133% respectively. As a result our new long-term Target as of now is $285.00 (+121% from the recent bottom). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:AVGOLong
by TradingShot
1
BROADCOM accumulating. Last opportunity to buy on this pull-backBroadcom Inc. (AVGO) has been trading within a long-term Channel Up since the October 13 2022 market bottom. The stock is now within the new Accumulation Phase that is being supported by the 1D MA100 (green trend-line). Based on the previous Accumulation Phase, we should get one (or two max) more pull-back towards the 1D MA100, before the price breaks upwards aggressively towards the Channel's top (Higher Highs trend-line). Last time the ultimate buy signal was when the 1D RSI made a Double Bottom. Our Target is $1800, which will be on the 3.0 Fibonacci extension, similar to the December 15 2023 High. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:AVGOLong
by TradingShot