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CheelooTrader

AVGO - Underrated titan in vulnerable spot

Broadcom Inc. (NASDAQ:AVGO)  
CheelooTrader Aggiornato   
NASDAQ:AVGO   Broadcom Inc.
Trend Analysis AVGO semiconductor megacap FLAG
4
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trendanalysis avgo semiconductor megacap flag
  • Three lower lows and lower highs ---
  • below VWMA (early) -
  • Decreasing volume --
  • Bearflag setup on daily ---
  • Good volume in the demand zone ++
  • IF market shows strengths next week, possible that it tests 625 zone, where it runs into big supply. Breakdown there could slide this to recent low near 500.
Trade attivo:
Volume still low, and into heavy supply...I expect weakness to start soon.
Trade attivo:
Today is the day ramp down has started...let's see if there is follow through.
Commento:
Bingo..first target 560
Trade chiuso manualmente:
I still have short bias, but hard to stay in the trade with the current price action. Price above VWMA could push higher.
Commento:
Leaders lead...formed a flag on daily and brokeout for the test of ATH.
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