🚀 $AVGO JUST BROKE OUT OF A FALLING WEDGE THAT STARTED AT ITS JUNE RECORD 📈
From the 495.00 record on Jun 3, every rally made a lower high: 432.73 in August, 380.84 in October.
The selling ran out at 290.12 on Nov 5. Five sessions later it's at 365.07, back above the wedge line.
🟢 I'm bullish. When a falling wedge breaks up, price often heads back toward where the wedge started, and here that's the 495.00 record 🎯 The October high at 380.84 is the first test.
A pullback to the falling wedge line or into the 334.67 to 344.31 gap would be a normal retest, not a failure.
What proves me wrong: a daily close under 316.69, the Nov 10 low that launched the breakout ❌
Bottom for $AVGO or just a bounce? 👇
#stocks
From the 495.00 record on Jun 3, every rally made a lower high: 432.73 in August, 380.84 in October.
The selling ran out at 290.12 on Nov 5. Five sessions later it's at 365.07, back above the wedge line.
🟢 I'm bullish. When a falling wedge breaks up, price often heads back toward where the wedge started, and here that's the 495.00 record 🎯 The October high at 380.84 is the first test.
A pullback to the falling wedge line or into the 334.67 to 344.31 gap would be a normal retest, not a failure.
What proves me wrong: a daily close under 316.69, the Nov 10 low that launched the breakout ❌
Bottom for $AVGO or just a bounce? 👇
#stocks
