How the (AVGO) price action is used to our Advantage

January 16, 2024, 12:30 pm ET, BY Robert S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for AVGO

• Buy AVGO slightly over 1041.84 target 1137.93 stop loss @ 1038.83 Details

The technical summary data tells us to buy AVGO near 1041.84 with an upside target of 1137.93. This data also tells us to set a stop loss @ 1038.83 to protect against excessive loss in case the stock begins to move against the trade. 1041.84 is the first level of support below 1110.93 , and by rule, any test of support is a buy signal. In this case, support 1041.84 is being tested, a buy signal would exist.

• Short AVGO slightly under 1137.93, target 1041.84, stop loss @ 1141.22 Details

The technical summary data is suggesting a short of AVGO as it gets near 1137.93 with a downside target of 1041.84. We should have a stop loss in place at 1141.22though. 1137.93 is the first level of resistance above 1110.93, and by rule, any test of resistance is a short signal. In this case, if resistance 1137.93 is being tested, a short signal would exist.

Swing Trading Plans for AVGO

• Buy AVGO slightly over 1137.93, target n/a, Stop Loss @ 1134.64 Details

If 1137.93 begins to break higher, the technical summary data tells us to buy AVGO just slightly over 1137.93, with an upside target of n/a. The data also tells us to set a stop loss @ 1134.64 in case the stock turns against the trade. 1137.93 is the first level of resistance above 1110.93, and by rule, any break above resistance is a buy signal. In this case, 1137.93, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AVGO slightly near 1137.93, target 1095.32, Stop Loss @ 1141.22. Details

The technical summary data is suggesting a short of AVGO if it tests 1137.93 with a downside target of 1095.32. We should have a stop loss in place at 1141.22 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 1137.93, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for AVGO

• Buy AVGO slightly over 1111.04, target 1137.93, Stop Loss @ 1108.45 Details

If 1111.04 begins to break higher, the technical summary data tells us to buy AVGO just slightly over 1111.04, with an upside target of 1137.93. The data also tells us to set a stop loss @ 1108.45 in case the stock turns against the trade. 1111.04 is the first level of resistance above 1110.93, and by rule, any break above resistance is a buy signal. In this case, 1111.04, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AVGO slightly near 1111.04, target 1095.39, Stop Loss @ 1113.63. Details

The technical summary data is suggesting a short of AVGO if it tests 1111.04 with a downside target of 1095.39. We should have a stop loss in place at 1113.63 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 1111.04, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Broadcom Inc. (AVGO) available here: AVGO.

AVGO Ratings for January 16:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	950.09
P2	1095.39	1042.35	1041.84
P3	1111.04	1095.32	1137.93

AI Generated Signals for AVGO

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Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Broadcom Inc. (NASDAQ: AVGO) data table below can help you with price action, and we have more details too. Trading plans for AVGO are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.