$Broadcom(AVGO)$ This is a bul

2024-12-27

$Broadcom(AVGO)$ This is a bullish chart.

Macro Thesis - Strong earnings report (earnings rose 28% while sales increased 51% vs. same period last year) - Strong sales of AI processors and networking chips - big beneficiary of AI boom - Raised its quarterly dividend - Positive expectations moving forward

Technical Thesis - Massive base and a breakout on strong earnings - Retest of the earnings gap zone and held - Gap and go - Relative strength during trading sessions and high volume - Back to ATHs A good name to keep an eye on for a momentum trade!

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