Ben_1148x2

AVGO - possible continuation scenario

Long
NASDAQ:AVGO   Broadcom Inc.
AVGO is a top position of mine. I was concerned that a close below 1200 would signal a near term reversal, as this would follow the pattern of the sentiment cycle. Wicking down to that level and continuing higher in advance of earnings is a strong sign for continuation.


Continuing further makes this seem more like wave 3 of 5, which could peak in one of the confluence zones overhead (1430-1475, or 1540-1595). If so, a wave 4 could bring us back to 1270-1400 prior to a push higher.






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