$AVGO Is Nearly 30% Below Its High. Iโm Watching This Setup
๐จ $Broadcom(AVGO)$ IS NEARLY 30% BELOW ITS $495 HIGH.
Meanwhile, Broadcom just delivered:
๐ Revenue growth: +86% YoY
๐ Adjusted EPS growth: +96% YoY
๐ฅ AI semiconductor revenue: +221% YoY
And management expects AI revenue growth of 236% next quarter.
Thatโs why this pullback has my attention. ๐
๐ฏ The setup Iโm watching
$AVGO is around $347 on this chart.
A move back to the previous $495 high would represent roughly 43% upside from here.
Key levels:
๐ข $330โ345 โ Buyers need to defend
๐ $360โ365 โ Reclaim would strengthen the setup
๐ $400 โ First upside level
๐ $430 โ Next target
๐ฏ $495 โ Previous high
โ ๏ธ I donโt want to chase the first bounce.
I want to see price confirm the reversal before taking the swing.
If $330โ345 fails, the setup weakens.
Strong business growth + deep pullback + defined technical levels.
Thatโs the combination Iโm watching here. ๐
Would you accumulate $AVGO around these levels?
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