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Additional Price Target Added to the AVGO Trade Idea

For those that prefer targeting relatively quick/shallow gains, I've added one additional price target at 138.63 (now T1), resequencing the previous two targets as T2 & T3.

AVGO daily May 4th

AVGO daily May 4th

This weekly chart indicates that there is most likely plenty of downside left on AVGO in the coming weeks & months.

AVGO weekly May 4th

AVGO weekly May 4th

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May 4, 2016 12:30pm|Categories: Completed Trades - Short|Tags: |3 Comments

3 Comments

  1. Gaucho May 23, 2016 8:28 am at 8:28 am

    Hi Randy, which is the suggested stop for AVGO?
    Today with some news have started to go up
    Regards

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    • rsotc May 23, 2016 10:24 am at 10:24 am

      @Gaucho– The suggested stop for AVGO is a close above 153.50 (from the original setup: http://rightsideofthechart.com/avgo-trade-setup/
      What happened was that AVGO continued higher when the setup was posted & did not trigger an entry (on a move back below 149.00) until April 22nd. Despite the recent strength in AVGO & the semis, the weekly chart on AVGO still looks quite bearish IMO although we need to see a weekly close below this primary uptrend line to sharply increase the odds of a move down to the 116.65ish level sometime this year.

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  2. Gaucho May 26, 2016 6:52 am at 6:52 am

    Hi, yesterday the stop 153.50 was reached.
    Regards

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