Broadcom - Just be careful...

17 juin 2024

AVGO is quite overextended and retesting resistance so you have to be careful.



Broadcom is rallying. This is a pretty obvious fact, considering that Broadcom is up roughly +330% over the past 1.5 years. Eventually we will see a correction, the only question is when and where. Currently, Broadcom is retesting a resistance trendline which has been pushing price lower for over a decade. Maybe this is a good area to close partials and monitor price closely.

Levels to watch: $1.840, $1.140

Keep your long term vision,
Philip - BasicTrading

20 juin 2024

Note

Quick update on Broadcom:

We always have to remind ourselves that trees do not grow to the sky! Eventually there will be a top followed by a correction. So far, it seems like this top is about to be formed on Broadcom. But there is absolutely no reason to go short yet!

Levels to watch: $1.800, $1.100