When AVGO shot up after the last earnings it looked a lot like too much of AI hype to me.
Drawing this channel explains the move quite well. With the June high and lows in September and November this channel was established and price took off right to the upper limit.
Since then it has corrected by about 20% but this could fit quite well in a 5-wave move to the upside targeting the 290$ area.
Alternatively price could fall to the 190$ region and invalidate the elliott wave. Depends a lot on market conditions and if we can see another NDX ATH.
Drawing this channel explains the move quite well. With the June high and lows in September and November this channel was established and price took off right to the upper limit.
Since then it has corrected by about 20% but this could fit quite well in a 5-wave move to the upside targeting the 290$ area.
Alternatively price could fall to the 190$ region and invalidate the elliott wave. Depends a lot on market conditions and if we can see another NDX ATH.
Note
Still sitting on the 1.382 extension, so keeping the expectation of 280$ on March 14thNote
190$ - the bears winTrade closed: target reached
Note
looks like bear marketNote
gangsters of Wall Street, like NVDA. Shot it up on AI hype after earnings to the upper limit of the channel, but the trend down was already planned and was confirmed on Jan 27th. Bye bye bull market. Note
went below the channel due to Trumps tariff insanity:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.