$AVGO Ready to Break Out?

23 thg 3, 2022

AVGO – On a relative basis, Broadcom has held up well when compared to other high beta stocks. When I look at this formation of candles on the right side of the chart, I can see several patterns; 1. Flat base, blue line. 2 ascending triangle, 3. If you look hard an inverse head and shoulders and most important 4. A Minervini – VCP (volatility contraction pattern). I also like the big green volume which shows massive accumulation since it’s Jan 24th low. I’ll be looking to go long when both the overall market is up and price goes above $613.50. In this market I’ve been running no more than a 2% stop. Let’s see how it plays out. Ideas, not investing / trading advice.

28 thg 3, 2022

Giao dịch đang hoạt động

I started a 1/2 size position @ $618.00 in AVGO this morning. Very aggressive as the stock made a bullish turn on the 5 min chart. Low was $615.78. Let's see if that holds. My stop will be just under the flat base line. If it gets back into that zone it tells me the idea / timing is not right.

28 thg 3, 2022

Ghi chú

Added to position @ 627.54. Now 2/3 size. Stop moved on position to just under LOD.

8 thg 4, 2022

Giao dịch được đóng thủ công

Forgot to post on April 1 I closed this position before round tripping for a small profit. Out at $632.00