NVDA Closed at Support | SPY & QQQ Long Term Outlook Guide- NVDA closed right at support very likely testing it again tomorrow morning.
- Nvidia does not have a lot of support in the gap zone so potentially more sell off if we do get into the zone.
- SPY rising wedge pattern is still in play.
- QQQ daily consolidation is still healthy havnt even pull back to 0.382 yet which potentially can still be a daily bull flag.
- pulling back over 0.5 will start to favor the bears on the next bounce as of now we still need more proving from the bears.
AVGO
NVDA $400 Psychological Support | SPY & QQQ Support & Resistance- AVGO blow of top, Earnings report Thursday
- NVDA broke 1 trillion dollar today which sucked in some new buyers then it came back below it, now has 400 psychological support
- SPY rising wedge is still my support & resistance visual guide
- QQQ potential monthly resistance at 0.618 fib retracement
AVGO - Rising Trend Channel [MID TERM]- AVGO shows strong development within a rising trend channel in the medium long term.
- The price has broken the resistance at 633 of a rectangle pattern, which signals a further rise.
- The stock is testing resistance at 640.
- This could give a negative reaction, but an upward breakthrough of 640 means a positive signal.
- Overall assessed as technically positive for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
*Chart Pattern:
DT - Double Top | BEARISH | RED
DB - Double Bottom | BULLISH | GREEN
HNS - Head & Shoulder | BEARISH | RED
REC - Rectangle | BLUE
iHNS - inverse head & Shoulder | BULLISH | GREEN
Verify it first and believe later.
WavePoint ❤️
Broadcom: Slide 🛝Broadcom is amusing itself in the playground consisting of the green zone between $648.08 and $577.41 and has lately been lingering mainly at the 78.60%-retracement at $621.54. However, soon, the share should switch over to the red slide leading below the support at $572.10 and into the lower green zone between $531.78 and $465.02 to finish wave 2 in green. This low should then grant the share new upwards momentum. There is a 37% chance, though, that Broadcom could prefer the jungle gym and thus climb above the resistance at $648.50. In that case, we would expect a new high in the form of wave alt.1 in green in the magenta-colored zone between $673.07 and $774.04 first, before the downwards movement can start again.
Looking to buy Broadcom at 50 EMA.Broadcom - 30d expiry - We look to Buy at 601.11 (stop at 579.11)
Price action continues to trade around the all-time highs.
Daily signals are bullish.
There is no clear indication that the upward move is coming to an end.
We look to buy dips.
50 1day EMA is at 600.11.
A lower correction is expected.
Bespoke support is located at 600.
This stock has seen good sales growth.
Our profit targets will be 654.32 and 664.32
Resistance: 648.50 / 665.00 / 677.76
Support: 625.00 / 615.00 / 600.00
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AVGO - bearish move short-termAVGO has been in a short-term uptrend. However it looks that the price is approaching the key resistance. We expect that the stock price may decrease in the coming period.
Therefore, we recommend taking a short position when and only if the price breaks the upsloping trendline that has been acting as a support. Once the price breaks this support , we can enter a short position, however it’s also possible to enter short when the price bounce back up and retests the trendline, get rejected and confirm it as a resistance.
When we look at the RSI, we see that there is a regular bearish divergence. That divergence shows the buyers exhaustion therefore there is a high probability that the price of the AVGO will go down in the next few days. We recommend closing to the short at 0.618 Fibonacci point. Target is shown on the chart.
Bearish to upper 400sNeeds to breakdown below 552 to set this in motion, but a few gaps to fill to downside and upside has run its course for now.
Initial target range in coming weeks is 492-520 (point target 505)
Goal target is around 475 where it will accumulate and form right shoulder of larger accumulation structure around the 2022 low. From the right shoulder it will begin next bullish cycle to new all time highs.
AVGO Broadcom Options Ahead Of EarningsIf you haven`t sold AVGO`s exposure to China:
Then looking at the AVGO Broadcom options chain ahead of earnings , i would buy the $515 strike price Calls with
2022-12-16 expiration date for about
$7.60 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
AVGO: Support Retest LikelyIts very possible that AVGO will be heading back to the 400 levels after rallying up to the resistance levels in the ~520s. Semis have had a strong run and the bounce on AVGO has been fairly significant without any convincing establishment of support levels on the way up. With this and the upcoming economic catalysts, its likely that a significant retrace is on the way.
Alternatively, there is the chance of a bullish continuation so this is a trade that needs to be quickly closed if it begins to breach the current resistant levels.
AVGO - Underrated titan in vulnerable spot
Three lower lows and lower highs ---
below VWMA (early) -
Decreasing volume --
Bearflag setup on daily ---
Good volume in the demand zone ++
IF market shows strengths next week, possible that it tests 625 zone, where it runs into big supply. Breakdown there could slide this to recent low near 500.
AVGO: POTENTIAL 11% SWING TRADEAVGO :
I like the setup here with a well-defined risk .
Nice sort of ascending triangle that started forming in January.
Strong support of the ichimoku cloud at 596.
Can we break 610.40 and push to the previous high at 678 in the next few weeks?
No one knows. But the risk vs reward ratio is good, as you can set your stop for a 3% max loss (below 596) and your profit target to 678 (11% profit).
Swing trade for me.
Trade safe!
AVGO exposure to ChinaThe U.S. warning China it could face devastating sanctions if it defies the ban on doing business with Russia!
This is a move that could have huge impact on American companies.
35% of AVGO Broadcom revenue comes from China.
My price targets from AVGO are $460 and $422.
Looking forward to read your opinion about this.
Broadcom Inc broadly dropping South. AVGOImmediate targets 516, 470. Invalidation 778.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
Semiconductors at long-term supportWhen looking at a weekly chart, it is easier to see if an asset is in a bullish or bearish trend.
Taking a look a the SOXX, we see we are at a potential place for a bounce.
I chose the 52 exponential-moving average because there are 52 weeks in a year, and it has worked very well in the past.
A close on a weekly basis below this level is the signal to get out. If we can hold though, it would be a strong bull case for a bottom.
Broadcom Inc is About to Dive. AVGOA very similar picture to Pfeizer from earlier today. Divergent end of a five Wave move and we won't reiterate further than this.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!