📊 Chart Breakdown:
AVGO is showing signs of a bullish pennant formation after a strong impulsive move up, followed by a period of consolidation.
🔹 Lower Highs & Trendline Resistance – The stock has been making lower highs, forming a downward sloping resistance.
🔹 Support at 9 EMA (Yellow Line) – The price has bounced off the 9 EMA, which suggests buyers are stepping in.
🔹 Volume Decline During Consolidation – A classic bullish pennant trait, showing a buildup before a potential breakout.
🔹 Breakout Confirmation Needed – A close above the descending trendline would confirm the breakout and push toward our target price of $271.50.
📈 Bullish Case:
If AVGO breaks out above resistance, we could see a strong continuation toward $271.50 in the coming weeks.
⚠️ Key Levels to Watch:
✅ Breakout Above: $232-$235
❌ Support to Hold: 9 EMA (yellow) & $220
💡 Final Thoughts:
With the current price action and EMA support, this setup favors the bullish case, but confirmation is key! Watch for a high-volume breakout for the best entry.
What do you think? Are you bullish on AVGO? Let’s discuss! 🔥📊
AVGO is showing signs of a bullish pennant formation after a strong impulsive move up, followed by a period of consolidation.
🔹 Lower Highs & Trendline Resistance – The stock has been making lower highs, forming a downward sloping resistance.
🔹 Support at 9 EMA (Yellow Line) – The price has bounced off the 9 EMA, which suggests buyers are stepping in.
🔹 Volume Decline During Consolidation – A classic bullish pennant trait, showing a buildup before a potential breakout.
🔹 Breakout Confirmation Needed – A close above the descending trendline would confirm the breakout and push toward our target price of $271.50.
📈 Bullish Case:
If AVGO breaks out above resistance, we could see a strong continuation toward $271.50 in the coming weeks.
⚠️ Key Levels to Watch:
✅ Breakout Above: $232-$235
❌ Support to Hold: 9 EMA (yellow) & $220
💡 Final Thoughts:
With the current price action and EMA support, this setup favors the bullish case, but confirmation is key! Watch for a high-volume breakout for the best entry.
What do you think? Are you bullish on AVGO? Let’s discuss! 🔥📊
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.