Instrument: AVGO
Entry Price: $234.70
Stop Loss (SL): $224.50
Take Profit (TP): $261.35
Time Frame: 4H
Technical Analysis:
Price Action:
Broadcom recently hit an all-time high and is now retracing towards strong demand zones around $235.60 and $230.60. These levels have acted as significant support in the past, leading to a bounce-back.
The demand levels around $235.6 and $230.6 are critical for a potential reversal. A bounce from these zones can drive the price up towards local resistance levels near $259 and $263.
Stochastic RSI:
Currently pointing downward but approaching oversold territory, suggesting an imminent bounce or rally back to resistance levels.
Risk-Reward Ratio:
With the entry, stop loss, and take profit set, the trade offers a favorable risk-reward ratio of greater than 1:2, making it an attractive setup.
Fundamental Catalyst:
Broadcom has declared a quarterly dividend of $0.59 per share, with an ex-dividend date set for June 20, 2025, and payable on June 30, 2025. This dividend underscores Broadcom’s strong financial health and commitment to rewarding shareholders.
Entry Price: $234.70
Stop Loss (SL): $224.50
Take Profit (TP): $261.35
Time Frame: 4H
Technical Analysis:
Price Action:
Broadcom recently hit an all-time high and is now retracing towards strong demand zones around $235.60 and $230.60. These levels have acted as significant support in the past, leading to a bounce-back.
The demand levels around $235.6 and $230.6 are critical for a potential reversal. A bounce from these zones can drive the price up towards local resistance levels near $259 and $263.
Stochastic RSI:
Currently pointing downward but approaching oversold territory, suggesting an imminent bounce or rally back to resistance levels.
Risk-Reward Ratio:
With the entry, stop loss, and take profit set, the trade offers a favorable risk-reward ratio of greater than 1:2, making it an attractive setup.
Fundamental Catalyst:
Broadcom has declared a quarterly dividend of $0.59 per share, with an ex-dividend date set for June 20, 2025, and payable on June 30, 2025. This dividend underscores Broadcom’s strong financial health and commitment to rewarding shareholders.
GODO Capital Markets
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.
GODO Capital Markets
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.