CFD Trading – Buy Broadcom INC. (AVGO.NAS) @ $466.00. Stop @ $446.00 and Target @ $489.00.

BROADCOM INC.  Stock Code AVGO.NAS

Outlook
Price reached a high of $489.01 on 5 April 2021 and has been declining since that high. Last Thursday, price tested the lower edge of the cloud but managed to stay above the cloud, keeping the uptrend intact. Price broke above the Doji high on Friday and this could be a sign of a possible reversal. Lagging Span is below price of 26 days ago but is above the cloud at the moment.  MACD is bullish and could be moving higher. If price is able to hold above the cloud, it could be heading towards the previous high at $489.00 again.

Strategy                  
$466.00              Buy
$489.00              Price Target
$446.00              Risk Management Stop
3 weeks              Trade Duration

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