AVGO eyes on $192: Double Fib Resistance holding up the bounce

28 apr

Tariff relive bounce has reached Golden Genesis fib at $192.34.
That fib is reinforced by tight confluence of a Covid fib at $191.92.
This double-fib Resistance is now key to the whole recovery process.

9 mag

Trade attivo

Break and POP

(yellow shaded area is from posting time)

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Zoom with some notes:

Our resistance zone was quite ready to Reject.
But Trump news blasted us through it nicely.
Then we got a perfect PING on Covid fib.

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So what next?

Looking for a little dip to Covid fib at $205.77
Then bounce to major Resistance at $217.01
Tomorrow is Friday so maybe some profit taking.

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12 mag

Trade chiuso: obiettivo raggiunto

BOOM, Target HIT

(in follow up to last snap shot above)

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So that was more than 14% gains

Closed 50% of the position, trailing stop on rest.
This should continue after some consolidation.
Might buy some back on a significant retrace.

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What next?

There could be a HUGE Leg coming up.
May take a while but $265 is plausible.
BUT a dip or sideways first is likely.

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