Its very possible that AVGO will be heading back to the 400 levels after rallying up to the resistance levels in the ~520s. Semis have had a strong run and the bounce on AVGO has been fairly significant without any convincing establishment of support levels on the way up. With this and the upcoming economic catalysts, its likely that a significant retrace is on the way.
Alternatively, there is the chance of a bullish continuation so this is a trade that needs to be quickly closed if it begins to breach the current resistant levels.
Alternatively, there is the chance of a bullish continuation so this is a trade that needs to be quickly closed if it begins to breach the current resistant levels.
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