Elliott Wave Technical Analysis: Broadcom Inc.

macro photography of black circuit board

Image Source: Unsplash

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. 


More By This Author:

SP500 Elliott Wave Analysis: Wave V) Of A - Protect Profits Trailing Stops
Elliott Wave Technical Analysis: Binance Coin
Nvidia - Elliott Wave Technical Analysis For Aug. 23

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.