Rectangle
Avgo appears to be trading in a rectangle. The top trendline is resistance and the bottom trendline is support, until the rectangle is broken with an obvious trend in place in that direction. Rectangles are a horizontal trading zone and are neutral until broken.
Some swing trade inside using MR (Mid rectangle) as a stop. This can be a risky trade as you never know when the rectangle will be broken.
Negative volume is high showing smart money interest and short interest is low.
There is a piercing candle pattern when AVGO neared the bottom trendline. This is a bullish 2 candle pattern that begins with a red candle while price is trending down. It is followed by a green candle that opens below the preceding red candle and closes between the mid point of the red body and the open of the red candle (the top si the open of a red candle and the bottom is the open of a green candle)
No recommendation.
Some swing trade inside using MR (Mid rectangle) as a stop. This can be a risky trade as you never know when the rectangle will be broken.
Negative volume is high showing smart money interest and short interest is low.
There is a piercing candle pattern when AVGO neared the bottom trendline. This is a bullish 2 candle pattern that begins with a red candle while price is trending down. It is followed by a green candle that opens below the preceding red candle and closes between the mid point of the red body and the open of the red candle (the top si the open of a red candle and the bottom is the open of a green candle)
No recommendation.
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