Elliott Wave Technical Analysis: Broadcom Inc., Sept. 28

Broadcom Inc., Elliott Wave Technical Analysis

Broadcom Inc., (AVGO): Daily Chart, September 28 2022, 

AVGO Stock Market Analysis: I wanted to zoom out to show you how we are approaching the volume point of control off the entire rally from the Covid-19 lows.

AVGO Elliott Wave count: Z of (2).

AVGO Trading Strategy: Looking for a clear sign of upside resumption to then place long term trades.

AVGO Technical Indicators: We have been in oversold territory for a while now so this could become interesting to buy in the future.

TradingLounge Analyst: Alessio Barretta

Source Tradinglounge.com 

Broadcom Inc., AVGO: 4-hour Chart, September 28 2022

Broadcom Inc., Elliott Wave Technical Analysis

AVGO Stock Market Analysis: I would be looking for further downside as the move down in wave {c} does not seem complete. In addition to that we are lookin at equality of W and Z at 424$.

AVGO Elliott Wave count: {c} of Z.

AVGO Technical Indicators: Below all averages in oversold territory. 

AVGO Trading Strategy: Looking for short term shorts, eventually using the 20 day EMA as resistance as long as every upside pullback is in a three wave nature.


More By This Author:

Elliott Wave Analysis: What's Going On In The Markets?
DAX 40 Index Chart And Forecasts Elliott Wave
CostCo Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis September 27 2022

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.