$Broadcom(AVGO)$ π ½π ΄ππππ °π »
π AVGO: The Breakout Watch Continues! π
Broadcom ($AVGO) is currently trading at $237.06 πΊπΈ (open market as of 18 Dec, π³πΏNZ Time), down 5.18% on the session. But donβt let todayβs dip fool you β this setup is building π₯!
πΉ π Key Fib Levels to Watch:
β’ Support: $236.72 (tested intraday)
β’ Resistance: $240.65 β $246.27 π
β’ Fibonacci Targets: $225.7 β $233.56 β $246.27
π‘ Whatβs Driving AVGO?
β’ AI Boom: Broadcom remains a key player in AI chips and cloud infrastructure, powering world-class data centres.
β’ Analysts have called AVGOβs momentum its own βNvidia Momentβ, spotlighting AI-driven demand.
β’ Institutional confidence is strong: State Street Corp recently lifted holdings, now owning 3.18% of AVGO.
π Technical Setup:
The chart shows a wedge pattern π forming, with support holding firm. A break above $240 could send AVGO soaring into $246+ levels, with a bullish eye on $250+ into Q1 2024.
π§ Fun Fact:
Did you know Broadcom chips are inside major AI powerhouses, including servers running cutting-edge machine learning algorithms? AI is not just the future, itβs Broadcomβs present.
Eyes on the prize: Are we ready to watch AVGO smash $240 and climb the ladder into the new year? π
What do you think, Tigers? Is AVGO gearing up to soar? π―π
Happy trading ahead! Cheers, BC ππππ
@Tiger_comments @Daily_Discussion @TigerPM @TigerStars @TigerPicks @Daily_Discussion @TigerGPT
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Based on the news articles available on 2024-12-18, here are some key points driving the movement of Broadcom (AVGO):
AI Boom: Broadcom is a key player in AI chips and cloud infrastructure, powering world-class data centers. The company's advancements in AI chips have gained attention and are driving AI-driven demand.
"Nvidia Moment": Analysts have referred to Broadcom's current momentum as its own "Nvidia Moment," indicating the potential for significant growth and market dominance in the AI chip industry.
Institutional Confidence: State Street Corp has recently increased its holdings in Broadcom, further indicating institutional confidence in the company's prospects.
Technical Setup: The chart shows a wedge pattern forming, with support holding firm. A break above $240 could potentially send AVGO soaring into $246+ levels and beyond.
It's essential to note that no significant movement reason has been found in the news articles provided. The stock's movement might be attributed to stock capital flow. The capital flow data for the day shows a total inflow of $3.398 billion and a total outflow of $3.64 billion for Broadcom.
Please be aware that the information provided here is based on the available news and capital flow data, and it's important to conduct thorough research and analysis before making any investment decisions.
Risk Disclaimer: The information provided here is for reference purposes only and does not constitute investment advice. Always do your own research and consider your risk tolerance before making any investment decisions.
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