Broadcom is at $326 resistance. It's accelerated well past it's historical trend line. This brings up concerns of over excitement.
While IXCO and SOX are still showing room for semiconductors to run as a broad group I would speculate AVGO is likely going to be left out as NVDA catches up. (NVDA hit it's current trend line this morning)
I'm expecting IXCO and SOX to hit resistance the end of this year. So until then I'm speculating AVGO is going to consolidate around current 326 resistance and eventually break down towards it's long term trend line.
I'm marking this Idea as "short" because I have a sideways/downward bias, but I personally am not actually shorting AVGO. When IXCO tops out there will be much better tech stocks to short.
Good luck!
While IXCO and SOX are still showing room for semiconductors to run as a broad group I would speculate AVGO is likely going to be left out as NVDA catches up. (NVDA hit it's current trend line this morning)
I'm expecting IXCO and SOX to hit resistance the end of this year. So until then I'm speculating AVGO is going to consolidate around current 326 resistance and eventually break down towards it's long term trend line.
I'm marking this Idea as "short" because I have a sideways/downward bias, but I personally am not actually shorting AVGO. When IXCO tops out there will be much better tech stocks to short.
Good luck!
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.