Elliott Wave Technical Analysis: Broadcom Inc.

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Aug 24, 2022 at 11:10 AM EDT

For short-term trading, we could wait for wave {b} and try to look for shorts into wave {c} of 2.

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BroadCom Inc., Elliott Wave Technical Analysis

Broadcom Inc., (Nasdaq: AVGO): Daily Chart, August 24, 2022, 
AVGO Stock Market Analysis: We could have a five-wave move to the upside just completed. Looking for further downside to complete wave 2 before looking for longs.

AVGO Elliott Wave count:  Wave {a} of 2
AVGO Trading Strategy: Waiting for the completion of wave 2 to enter longs.

AVGO Technical Indicators: We are at a point where all the averages are crossing each other which would make us think about further downside to come as predicted.

Analyst: Alessio Barretta

BroadCom Inc., AVGO: 4-hour Chart, August 24, 2022, 

BroadCom Inc., Elliott Wave Technical Analysis
AVGO Stock Market Analysis: Looking for a bounce in wave {b} to then resume lower.

AVGO Elliott Wave count:  Wave {a} of 2.
AVGO Technical Indicators: Indicators suggest that upside is not ready to resume.

AVGO Trading Strategy: For short-term trading, we could wait for wave {b} and try to look for shorts into wave {c} of 2.

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