AVGO - The V shaped recovery is complete
$Broadcom(AVGO)$ : Broadcom has reached new all time highs, the V shaped recovery is complete, and the last candle is a shooting star crossing the higher Bollinger band which suggests a consolidation is imminent. The RSI adds more signs of overheated conditions.
Broadcom is far above its $239.8 central level set a bullish tone for the week when the price open above that it. Today, the rejection occurred at the resistance level $263.3, after a breach that lasted 30 minutes when the market opened today.
$254.7 can be used as a reference to manage risk for a conservative approach, but so far $278 and the $310 levels cannot be ruled out for the coming weeks. Remember that Broadcom has very strong fundamentals, they were posted at the end of 2024.
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