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so here we can see that the stock is trading under a bit of selling pressure here uh into the current trading session uh we do have a very eventful week here this week in terms of the broader Market uh we will be seeing some significant earnings reports this week so uh we do need to sort of prepare here for a bit of increase in uh General market volatility uh because the technology sector is likely to experience uh some probably some very significant changes here uh in a very short period of time so uh currently we can see that the stock uh has posted uh near-term lows coming in at 14694 uh and this Falls the prior highs uh which were posted just above 155 uh this would have occurred during yesterday's trading session July 29 uh so this uh currently sort of forms the range that we're dealing with um just ahead of the uh the uh uh now appearing on the 4our chart so that would be this blue line down here so for the most part you know we have started to see some support here we're sort of closing back in on this level um and if we don't see if we don't see bounces here relatively soon uh it does start to look like uh this 14553 low which which posted on uh July 25 uh is likely to start coming under pressure once again so we will kind of zoom into the the hourly charts here to get a closer look at these price moves so as we can see here um you know we are forming a bit of a bit of a trading range here and we are currently below uh all four of the exponential moving averages on the hourly chart uh for the most part the IND at a reading you know on the 4our chart it was it was bullish uh it was bearish as well and we're seeing similar indications here uh on the hourly chart so uh you know overall here we're not we're not yet trading into uh oversold territory which suggests that a bounce would not be imminent um but you know we do have a little bit of a a little bit of a bullish Divergence condition here we just sort of zoom in a bit uh we can see that uh you know the indicator reading here uh is pointed in in the upward Direction uh even though we're really seeing you know sideways to lower trading activity here so this would qualify as a bullish Divergence for this chart and this is the hourly chart so it is a very important chart to be watching uh but you know at best although we would really be able to call this uh would be a sideways consolidation trading pattern uh but this this type of activity is not being reflected in the indicator reading itself if we look to the bottom of the chart here we can see that there is an uptrend line in the relative strength index index reading that's this purple line at the bottom of the chart um so you know this does suggest that um you know the indicated reading itself is not really confirming these new price lows currently we're trading very close to Prior prior support zones uh currently we're looking at prices of 14790 uh so you know we're really trading right back at the lows here but as we can see the indicator reading uh is not trading at its lows so you know this does this does suggest that a bullish Divergence could be building here um and this does suggest that we could be looking at a at a bottom at least as far as that piece of evidence is concerned so uh next you know we do need to look at the exponential moving average cluster on the hourly chart because this is very commonly watched price chart uh and as we can see here um you know we've already had several moving average crossovers into the bearish direction into the downside Direction This has occurred with the 20 hour and 50h hour uh exponential moving averages already we have seen both of those moving averages cross below the 10200 hour EMAs but more recently what we're seeing now is uh this event here uh which is the the 100 period EMA Crossing below the 200 period EMA uh so this is fin of the this is essentially the final crossover that can happen uh when we're looking at these specific time frames um so you know this does suggest that you know the overall moving average cluster will continue to move lower and this significance of this uh rests on the fact that uh this means that the stock itself will continue to face resistance levels at lower and lower levels uh as long as these moving average continue as long as these moving averages continue to move lower um you know we will start to see the the share price itself start to have greater difficulty uh in overcoming these these uh resistance zones so overall this is a bearish type of environment um and then we have to take that in consideration with the fact that there are going to be some very very important fundamental updates uh that are being develop that are being released this week uh specifically we have to deal with the uh four major earnings reports that will be that will be posted uh during during this during the next few days uh and this will include Microsoft Apple uh meta platforms and Amazon all releasing earnings reports uh roughly right around the same period of time so in many ways you could argue that this is the most important trading week uh of the entire year it's not hyperbole to say that um there there we've seen a significant amount of selling pressure over the last two weeks and this has been reflected uh in the broad in the broadcom chart uh I would say for for the most part you know broadcom is actually held up fairly well compared to some stocks uh anybody that has seen my recent video on meta platforms uh would know that some of the mag 7 stocks are fairing much worse uh we're seeing much you know much greater downside pressure here in that stock um but you know and and broadcom has fared fairly well here it hasn't done a bad job holding up in the face of this broader Market uh selling pressure uh but we can't deny the fact that there have been significant declines here and this does suggest that um you know there's there's a fairly strong amount of volatility and bearish activity uh that is developing at the moment uh so if we do see some negative uh you know performance results from these four uh companies these are all in the mag 7 so most of the mag 7 companies are reporting earnings this week um you know if we do start to see some negative results or mixed results um it does stand a reason that the entire technology sector is going to start to trade under uh increased downside selling pressure so you know currently you know we do have to take this into consideration with the technical Viewpoint here the chart analysis uh which does tell us that you know we're really rapidly closing in on some on some new lows here you know even as I'm saying this you know we can see that the price chart is is coming in to test these these prior lows that I just mentioned at uh 14553 this would be the July 25 low uh we're not quite there yet um we're roughly 80 cents 8090 cents away from that point currently uh you know but we are closing on this we are closing in on this level fairly quickly and if we do see a downside break here that will inject some volatility uh into this this specific uh price chart even before uh we actually get the release of some of these earnings uh these quarterly earnings reports uh from these major four companies e ]
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