Momentum Map: AVGO Weakens, Laggards LLY & BRK.B Lead Strong Rebounds
The Momentum Map below illustrates the movement for different companies analyzed every week, the lines present the evolution for over 10 weeks.
First, note how $Broadcom(AVGO)$ fell from the leading quadrant🟢; it is now -11% from its top after a weekly shooting star candlestick and a new bearish MACD crossover.
$Strategy(MSTR)$ also continues to decline following a technical setup, and the falling price of Bitcoin is not helping🔴. The red quadrant is where you should avoid long positions, but it is also where solid companies often find support and bounce (I track large or megacaps only).
This publication helps to time those bounces using technical analysis, just as it did with $Apple(AAPL)$ 🟢 , today in leading but few months ago in the red one.
Since July/August, I highlighted the launchpad this stock was forming as a laggard. The recent rallies in $Eli Lilly(LLY)$ 🟢 and Berkshire Hathaway $Berkshire Hathaway(BRK.B)$ 🟢 are outstanding; they came directly from the laggard zone. The central level published for BRK.B last week at $481.2 was conquered on Tuesday, Nov 4th, and the +6.5% move is history.
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