3 Weeks ago AVGO put in a topping tail candle on the weekly and for the past 3 weeks it has failed to close above the topping tail on a weekly basis. I've also highlighted some bearish divergence on the RSI. The topping tail will remain the dominant candle unless AVGO can close above the high of the topping tail on a weekly basis, which is $265.43. AVGO is looking like a prime short candidate. In fact, I would short now given this weeks candle is so close to the topping tails high of $265.43 and then just wait to see where fridays close is. As long as its below the high from the topping tail then the trade is still on, if its above then that cancels the topping tail and the trade would be stopped out. Your stop loss would be a few dollars at most if you enter at current levels
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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.