BROADCOM The next expansion wave to $285 has begun.

22 Agu

Broadcom Inc. (AVGO) has already completed 2 weeks of gains that essentially recovered the majority of the July-led correction. This rebounded not only largely maintained the long-term Channel Up pattern that started on the October 2022 market bottom but also managed to keep the 1W MA50 (blue trend-line) intact.

This is an extremely bullish long-term combination as it should technically start the stocks 3rd long-term expansion wave as illustrated on today's 1W chart. As you can see the previous two peaked at +121% and +133% respectively. As a result our new long-term Target as of now is $285.00 (+121% from the recent bottom).

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