AVGO LT: BULL / ST: BEAR UNTIL NEXT EARNINGS!!
After taking a look into AVGO, I decided to take profit on a CALL Option that was placed last month. I was alerted by this double top / triple top chart pattern which led to the take profit decision. I've placed notes on this chart as you can see.
ALL TIME HIGH (ATH) : 252
After reaching ATH, Broadcom has tried to rest the resistance and has rejected 2 to 3 times over the course of a month. With this 3rd retest and rejection. It is a clear indication of a pullback towards the 200-220 area. I will continue to monitor day to day for any changes in my analysis.
For my scalpers: If you want, you can execute a PUT option with take profit around 220 area.
STOP LOSS: 242
I on the other hand will wait until pull back is drawn then execute another CALL Option. I am very bullish on AVGO, and I see great potential for this company to flourish in the upcoming years.
Feel free to leave any comments on this take about Broadcom.
ALL TIME HIGH (ATH) : 252
After reaching ATH, Broadcom has tried to rest the resistance and has rejected 2 to 3 times over the course of a month. With this 3rd retest and rejection. It is a clear indication of a pullback towards the 200-220 area. I will continue to monitor day to day for any changes in my analysis.
For my scalpers: If you want, you can execute a PUT option with take profit around 220 area.
STOP LOSS: 242
I on the other hand will wait until pull back is drawn then execute another CALL Option. I am very bullish on AVGO, and I see great potential for this company to flourish in the upcoming years.
Feel free to leave any comments on this take about Broadcom.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.