Tag: Broadcom

CFD Trading – Citigroup & Boardcom

Nicholas

Citigroup Inc Stock Code C.NYS

Outlook

Price moved below the cloud yesterday. This could be the start of a downtrend. Conversion and Base lines had a bearish crossover confirming the downtrend. Lagging Span was below the cloud as well, reinforcing the bearish trend. MACD has started to turn bearish with both its lines below the zero line. Price also broke and closed below a trend line from 24th Dec 2018, connecting with the low of 3rd June. Price is likely to decline to the previous low of $60 which is also close to the Fibonacci 50% of the rally from 24th Dec 2018 to the high at $73.26.

Strategy

$65.80 Short Sell
$60.02 Price Target
$68.50 Risk Management Stop
3 weeks Trade Duration

Broadcom Inc. Stock Code AVGO.NAS

Outlook

Price dropped below the cloud yesterday, confirming the bearish trend. Both Conversion and Base lines had a bearish crossover last night as well, reinforcing the bearish trend. MACD has turned bearish with its slow line about to cross below the zero line. Lagging Span is below the cloud, confirming the bearish trend. The bearish trend could bring price lower to $239.07, according to the Ichimoku E projection

Strategy

$268.70 Short Sell
$239.10 Price Target
$285.30 Risk Management Stop
3 weeks Trade Duration

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CFD Trading 8 July 2019

Nicholas

Broadcom Inc Stock Code AVGO.NAS

Outlook

Price has declined for 3 consecutive days and in the past 2 days, a gap was created, indicating the stronger intensity of the downward movement. Price is on the lower edge of the cloud and a movement below the cloud would confirm the bearish trend. MACD is also about to turn lower while the slower MACD line has yet to turn bullish despite the prolong price rally. As long as price failed to close this gap, the trend is bearish and we think price could be on the way to test the low of $257.12 again.

Strategy

$283.60 Short Sell
$257.20 Price Target
$295.60 Risk Management Stop
3 weeks Trade Duration

Exxon Mobil Corporation Stock Code XOM.NYS

Outlook

Price failed to break above a resistance line and the cloud resistance and has declined back to the edge of the cloud. Price is now below the Conversion line but is above the Base line. The corrective rally was also capped by the Fibonacci 62% correction point of the decline from $83.55 to $70.73 low. MACD is turning down and with price below the cloud and Conversion line; we prefer to take the bearish stance. If price stays below the cloud, we think price could be moving lower to $ $72.42.

Strategy

$76.15 Short Sell
$72.42 Price Target
$77.95 Risk Management stop
3 weeks Trade Duration

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CFD Trading 13 June 2019

Nicholas

Broadcom Inc Stock code AVGO.NAS

Outlook

After a low on the 28th May, price has been on a rally and is now near to closing a gap resistance at $288.80. There is a Base line resistance at $284.60 and cloud resistance $288.40. Fibonacci 50% of the decline from $323.40 to $250.20 comes in at $286.70. There is a strong resistance zone from $286.70 to $288.70. MACD is still bearish and this current rally could be a corrective rally. If price is unable to move above $289.00, it is likely to decline back to $250.20.

Strategy

$288.50 Short Sell

$256.80 Price Target

$294.50 Risk Management Stop

3 weeks Trade Duration

Qualcomm Inc Stock Code QCOM.NAS

Outlook

Price has corrected back to the start of the gap and the edge of the cloud. Price was unable to move above the cloud and has dropped lower yesterday, confirming a Bearish Star pattern. If price is capped by the cloud and the gap, it is likely to move lower to test the low of $62.80 again. MACD is still bearish and its histogram has started to change colour and turned lower. This could be a sign the correction is over and price is about to decline again.

Strategy

$69.50 Short Sell
$62.80 Price Target
$72.70 Risk Management Stop
3 weeks Trade Duration

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