Broadcom Inc.(AVGO:NASDAQ) Elliott Wave Technical Analysis August 24 2022

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BroadCom Inc., Elliott Wave Technical Analysis 

Broadcom Inc., (AVGO:NASDAQ): Daily Chart, August 24, 2022,  
AVGO Stock Market Analysis: We could have a five wav move to the upside just completed. Looking for further downside to complete wave 2 before looking for longs.  

AVGO Elliott Wave count:  Wave {a} of 2 
AVGO Trading Strategy: Waiting for the completion of wave 2 to enter longs.   

AVGO Technical Indicators: We are in a point where all the averages are crossing each other which would make us think about further downside to come as predicted.  

TradingLounge Analyst: Alessio Barretta

 

 

 

BroadCom Inc., AVGO: 4-hour Chart, August 24 2022,  

BroadCom Inc., Elliott Wave Technical Analysis 
AVGO Stock Market Analysis: Looking for a bounce in wave {b} to then resume lower.  

AVGO Elliott Wave count:  Wave {a} of 2.  
AVGO Technical Indicators: Indicators suggest that upside is not ready to resume.   

AVGO Trading Strategy: For short term trading we could wait for wave {b} and try to look for shorts into wave {c} of 2.