Naked Chart Trading: AVGO 13 Jun 2024
After $NVIDIA(NVDA.US$ , now I have the chance to include $Broadcom(AVGO.US$ in my portfolio, as the company also unveil 10 for 1 stock split, make the stock price more investor friendly now!
Broadcom's share prices rallied more than 10% on extended trading hours today, hit a fresh record high. Let me look into their daily chart to see where will the price go next.
$Broadcom(AVGO.US$ Daily Chart
The reason why I choose daily chart is because I want to identify immediate resistance levels in a shorter trend. There will be closer resistance level if I draw on shorter time frame like hourly chart.
Trend: Bullish but watch out for day closing candlesticks to confirm
Fibo Analysis (May 2024 high & low): strong rebound and break new high after a 38.2% correction. Currently testing USD1700 level, close above USD1725 to trigger more upside.
Resistance: USD1725, USD1805, USD1850
Support: USD1660 (to start technical correction after the long candlestick), USD1600, USD1550, USD1515, USD1470
Disclaimer
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Trading is a mirror that reflects everything about myself
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