Broadcom Inc.(AVGO:NASDAQ) Elliott Wave Technical Analysis August 30, 2022

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Broadcom Inc., Elliott Wave Technical Analysis 

Broadcom Inc., (AVGO:NASDAQ): Daily Chart, August 30, 2022,  
AVGO Stock Market Analysis: After moving as expected from the previous forecast, we are looking for a bounce as we have approached equality of wave {a} and {c}. 

AVGO Elliott Wave count:  {c} of 2 
AVGO Trading Strategy: Looking for  a bounce to the upside in wave {i} to potentially break the top of wave {b}. 

AVGO Technical Indicators: We moved below the averages however we could easily bounce back.   

TradingLounge Analyst: Alessio Barretta 

 

 

 

Broadcom Inc., AVGO: 4-hour Chart, August 30 2022,  

Broadcom Inc.,  Elliott Wave Technical Analysis 
AVGO Stock Market Analysis: Looking for wave (iv) of {c} to be on the horizon, looking for one last move down into wave (v). 

AVGO Elliott Wave count:  Wave (v) of {c}. 
AVGO Technical Indicators: Indicator are not yet suggesting a bullish move, which is why we are waiting for confirmation.  

AVGO Trading Strategy: Very short term we could look for a small short to move a bit lower. Alternately we would wait for upside confirmation.