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we have avgo as we can see here the stock is uh it's we're still trading under some pressure here but for the most part uh you know we have stabilized a bid uh there has been a a recent Bounce from these these shorter term lows uh and we will zones uh so that we can try to identify uh some some price levels that can be used for trading plans uh currently what we're looking at here would be a low that came in at uh these these lows came in at 14553 so uh you know if you've been watching my prior videos on this uh on this stock I have been watching this 151 area uh as a potential uh Zone uh to watch on the downside and as we can see here the stock has breached this area at this point uh the reason I was watching this 155 uh this 151 area uh was due to the fact that uh this re region uh marks move uh and it also uh you know a test here would sort of result in uh this prior price Gap uh being filled uh for the stock uh for the most part you know anybody's that's anybody that's watching the stock market as a whole uh understands that you know most of the market has been under significant selling pressure for the past two weeks or so um you know and these price moves have been fairly extreme to the downside uh one stock that you know I could point to several stocks here but one stock that I can point to in particular would be uh meta platforms uh if anybody's interested in watching that video um that stock has completely collapsed um I do recommend kind of taking a look at that price chart I I posted a video on this today um that stock has just completely falling through the floor uh you know and this has been fairly widespread activity throughout the market I mean even Microsoft uh is heading lower at this point uh and when Microsoft is heading lower you know pretty much everything uh is is experiencing some some type of selling pressure so uh you know it's to be expected here that we would be seeing uh some some additional price declines here uh with broadcom uh but what's interesting to note here is that these lows uh really did Bounce from this 200 period exponential moving average uh on the 4our chart so we can kind of zoom in here and see this I'll delete this trend line here just so we can see it a little bit better but um you know we we did see a spike off of this off of came in just below 144 uh sorry just below 145 uh overall this is a green candle so this does tell us that the uh that the price close uh was higher than the price open despite the fact that we did fall through some major support zones as this was happening uh so you know the real question from here will be whether or not uh these these coming uh these next uh Candlestick patterns uh are positive or negative because if they are positive we will start to see a reversal uh a reversal structure here in the candles themselves we're not we're not quite there yet I'm not I'm not saying that this will happen or won't happen uh but these next these next uh Candlestick patterns are going to be very important uh in order to determine whether or not we have actually seen a bottom here uh if we do breach through uh these prior lows which came in uh right around the 145 area um you know the next level to watch to the downside would come in at move in the upward Direction uh and currently this level comes in just below 14180 uh so you know it's possible here that we could see a bit more of an extension uh but it really is going to determine this really is going to be determined by uh whether or not we we're able to see a reversal pattern uh in these coming candlesticks uh what I would what I would prefer to not see uh would be sort of a sideways consolidation period here if we do see that uh that would that would really be a suggestion that the market is kind of taking a brief uh and is ready to probably start moving lower given the fact that uh you know the indicator reading here uh does suggest that uh negative momentum still dominates this Market uh we have not yet broken uh through this this uh this negative Trend uh in the relative strength momentum reading uh so this is a negative sign here uh and this does make me a bit reluctant to call the bottom uh at this point uh you know as I said the the next level to watch if we do continue to see further price mooving slow would be the 140 180 level uh but if we do see a convincing break below there uh that does then start to look like we're going to retrace this entire bull wave here and retest these prior lows uh which came in just above 130 uh roughly 13020 13020 um so you know we do have this negative M momentum reading uh but we're also going to start to move into oversold territory relatively soon uh that will be an important thing to watch uh and then in addition to that uh we really should be watching you know keeping an eye on these trading volumes because what we've seen here is a steady decline uh in the attention that's being paid to this stock I mean as we can see here um you know we saw a fair amount of trading volume activity and it's just continued to decline as this price action has declined so uh you know these movements lower you know it's a they're a little bit less sustainable uh you know given the fact that um you know we haven't seen you know excessive Trading volumes occur as these sell-offs have happened uh so ultimately you know it's very hard to argue with the point that um you know these broader sell-offs in the market uh really could be what is generating all of this downside momentum I don't I don't think I don't find this to be a broadcom specific move um you know I think that there's just a lot of uncertainty in the Market at this point it's the summer trading period uh some people are probably exiting positions uh August tends to be a bit of a negative month uh historically so so you know there there are several factors involved here and then and then we have to you know just consider the fact that technology stocks have had a major runup this year uh some people have called that you know irrational exuberance um you know Nvidia in particular you know maybe maybe Nvidia ran too far uh in the in the opinion of many people so you know these are really the factors that are that are most likely dominating this stock at this point um I don't see any specific uh you know broadcom news uh that would suggest that the stock uh should should be trading lower uh and for that reason you know we do need to keep watching here for potential opportunities to the downside uh we we recently saw the stock split uh so that will'll make it easier for some people to sort of add to their positions and scale in and out of their positions um and uh you know overall we will we will be looking for trade entries here to establish long positions uh but we just need to see a bit more evidence here uh that these declines have actually run their course and that we're ready to start reversing
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