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CheelooTrader
7. Febr. 2022 05:55

AVGO - Underrated titan in vulnerable spot 

Broadcom Inc.NASDAQ

Beschreibung

  • Three lower lows and lower highs ---
  • below VWMA (early) -
  • Decreasing volume --
  • Bearflag setup on daily ---
  • Good volume in the demand zone ++
  • IF market shows strengths next week, possible that it tests 625 zone, where it runs into big supply. Breakdown there could slide this to recent low near 500.

Trade ist aktiv

Volume still low, and into heavy supply...I expect weakness to start soon.

Trade ist aktiv

Today is the day ramp down has started...let's see if there is follow through.

Kommentar

Bingo..first target 560

Trade wurde manuell geschlossen

I still have short bias, but hard to stay in the trade with the current price action. Price above VWMA could push higher.

Kommentar

Leaders lead...formed a flag on daily and brokeout for the test of ATH.
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