01/31/21
Blue Chip Daily Chart of the Week:
Broadcom, AVGO
Close: 450.50
Stop level for position traders and investors: 378.42
please see chart analysis below
- Broadcom (AVGO) is a large cap leader in the semiconductor sector and is on this week’s Members Top 25 List.
- AVGO is in a technical uptrend above the rising 20, 50, 100 and 200-day moving averages, indicating an uptrend on multiple time frames.
- AVGO pulled back with the market last week, with a 6.0% pullback off of all-time highs.
- $420 and $390 are support levels on any pullback and a close over $470 could signal a new leg higher.
- We started to take a more defensive posture on 1/22 and 1/25, by locking in gains and increasing cash. Join today to see how we are positioned going into this week:
Disclosures:
- See our top performing market calls here, including how we managed the 2020 SPX drawdown and recovery: https://bluechipdaily.com/performance/
- Our Top Performers page: https://bluechipdaily.com/top-performers/
Have a great week,
Larry Tentarelli
Publisher
Disclaimer – Blue Chip Daily Trend Report
