Elliott Wave Technical Analysis: Broadcom Inc. (AVGO)

macro photography of black circuit board

Image Source: Unsplash

Broadcom Inc., Elliott Wave Technical Analysis 

Broadcom Inc., (Nasdaq: AVGO): Daily Chart, August 30, 2022,  
AVGO Stock Market Analysis: After moving as expected from the previous forecast, we are looking for a bounce as we have approached the equality of wave {a} and {c}. 

AVGO Elliott Wave count:  {c} of 2 
AVGO Trading Strategy: Looking for a bounce to the upside in wave {i} to potentially break the top of wave {b}. 

AVGO Technical Indicators: We moved below the averages however we could easily bounce back.

Analyst: Alessio Barretta 

Broadcom Inc., AVGO: 4-hour Chart, August 30, 2022,  

Broadcom Inc.,  Elliott Wave Technical Analysis 
AVGO Stock Market Analysis: Looking for wave (iv) of {c} to be on the horizon, looking for one last move down into wave (v). 

AVGO Elliott Wave count:  Wave (v) of {c}. 
AVGO Technical Indicators: Indicators are not yet suggesting a bullish move, which is why we are waiting for confirmation.  

AVGO Trading Strategy: Very short term we could look for a small short to move a bit lower. Alternatively, we would wait for upside confirmation.


More By This Author:

Uniswap Elliott Wave Analysis - Tuesday, Aug. 30
European Indices: DAX 40, FTSE 100, STOXX 50, GBPUSD, EURUSD
Elliott Wave Technical Analysis: ASX200, BHP, RIO, FMG, NCM, DXY, AUDUSD

Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.