Broadcom at Resistance

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!