Elliott Wave Technical Analysis: Broadcom Inc. - Tuesday, Nov. 29

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Nov 29, 2022 at 9:11 AM EST

Looking for wave {iv} to complete, you could look for very quick shorts on the way down wave (c).

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Broadcom Inc., Elliott Wave Technical Analysis

Broadcom Inc., (Nasdaq: AVGO): Daily Chart, November 29, 2022,

AVGO Stock Market Analysis: We have been moving as expected for the past weeks. We are now looking at a potential wave {iv} after we fell short of 1.618 {iii} vs. {i}.

AVGO Elliott Wave Count: Wave (a) of {iv}.

AVGO Technical Indicators: Getting closer to the 200EMA which may act as support.

AVGO Trading Strategy: Looking for further upside after wave {iv}.

Analyst: Alessio Barretta

Broadcom Inc., AVGO: 4-hour Chart, November 29, 2022

Broadcom Inc., Elliott Wave Technical Analysis

AVGO Stock Market Analysis: We have a nice and clear five-wave sequence within wave {iii}and we are expecting wave {iv} to fall near wave four of one lesser degree at around 505$.

AVGO Elliott Wave count: Wave (a) of {iv}.

AVGO Technical Indicators: 20EMA acting as support.

AVGO Trading Strategy: Looking for wave {iv} to complete, you could look for very quick shorts on the way down wave (c).

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