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some interesting moves to the top side um but the the moves themselves have have been a bit shortterm in nature um we weren't really able to hold uh some of the highs that were just recently posted um but this has been an interesting trading session here um in Prior videos on broadcom I've pointed out this uh sideways trading range that was starting to develop for the stock um you know and then after the recent break higher um I was looking for some further extension here uh in share price activity uh this does this does uh look as though uh you know our projections here were playing out as expected um but overall uh you know the the moves to the top side were quick like they were very brief um you know we did we did move above the $1,700 Mark um you know but we really weren't able to sustain this level uh for very long um ultimately the highs posted at 1765 um so you know this is this is significant uh a bit longer term uh because it does suggest that you know we are kind of marching back toward uh the stocks prior highs um after all the declines that were seeing uh in the trading periods that occurred between uh roughly the middle of June uh and then this extended toward uh you know roughly toward the end of June uh so roughly you know June 16th to June 25th uh you know we did see some fairly substantial declines at that point um but for the most part we did manage to uh develop a support Zone here um a higher level of support um and this roughly comes in at 1570 um so you know overall you know I am looking at this uh as an encourage in development here uh because it does suggest that we are um you know establishing a foo hold at higher and higher levels um I have seen some of the other analysis that was done on this stock uh many people were kind of pointing to this trend line break here uh and they were essentially saying that you know the uptrend is over um stop buying this stock time to get out um you know broad broadcom is done game over you know there were some really ridiculous uh you know you titles for videos um you know but this really wasn't the case I mean you know as we can see here you know the our expectation here for this trade uh was for the stock to start to establish itself uh at a higher foothold uh and to continue to uh you know post higher lows um on route to a retest of the of the stocks all-time highs so um you know for some people uh some people are discouraged by this stock because the share price uh level is so high uh but it will be important to kind of keep this name on your radar um because there we're going to be seeing a stock split in this stock um and that does make it much more accessible uh to to retail markets um it does make it much easier to trade um we we will be seeing this relatively soon and that that alone often you know really shouldn't uh bring the share prices higher but more often than not that is the effect uh because you know more more people tend to become interested um in these stocks once they're easier to purchase I mean a $1,700 stock is is very difficult to purchase but this won't this won't be the case much longer so if you're not currently along the stock I would definitely keep this on your radar um because this this is one of the great uh you know uh artificial intelligence choices uh that we currently have available in the market so all of that said um you know we do need to point to some uh some flaws here let's call it uh in the uptrend uh which make it sort of surpris you know not not which which mean which make it not surprising uh that we're starting to see a bit of a a bit of a rule over here um you know in particular we can point to um you know this uh uh which did show that share prices had reached heavily overbought territory um we really came in just below the 90 level I'd call this uh maybe 8960 roughly um which which does you know we really are in heavily overbought territory at that point um so it's really not surprising uh to see you know to see a corrective down downtrend here or or a corrective pullback decline uh in share prices I mean we have seen a pretty significant run here um and then to start the the trading date today um you know we really did see a fairly strong Spike higher um as we can see here it really wasn't sustainable uh this is a 30- minute price chart so um you know this is really where we left off yesterday well day before yesterday yesterday was a holiday the prior trading session let's call it that um you know we can see here that we open quite strongly I mean this is the first hour the first half hour of trading um you know and you'll have to remember this also comes during a day where there where there's uh reduced liquidity in the market um that's due to the July 4th holiday um there are just simply a lot of orders that normally would be in the market um you know during during a during these trading periods um but a lot of those positions were closed um you know in advance of the holiday so we would expect a lot of that liquidity to return on Monday um and then share prices share price action and overall volatility levels uh to kind of return to normal um next week um you know but you know there there was also economic uh data to start the day we had the non-farm payrolls number um which did have an effect on markets um and it did send you know share price prices for many stocks it it did send those higher in some cases um so uh you know currently what we're looking at is highs of 1765 in avgo um this would be the level you know the next level to watch to the top side um but it does look as though we're going to be in here we're going to be in for a period of uh continued downside retracement uh lower because um you know we have broken this uptrend here um in share price momentum um so this does suggest that you know this latest run higher um is probably run its course uh we're going to need to see a bit of a bit of downside price movement um in order to kind of reinvigorate the uptrend uh and to bring buyers back into the stock so uh currently to the downside the level that I would be watching uh for potential uh buy zones uh would come in just above, 1650 um this is where we have the prior highs from July 1st uh so this is a resistance level that would now be expected to start working as a support Zone uh and then in addition to that we do have the 100 period uh exponential moving average coming in coming in contact here relatively close um depending on when this occurs it could actually be the 200 period exponential moving average um you know it remains to be seen how quickly um you know we fall back toward these levels if it's a quick Movement we we may come in contact here with the 100 period EMA which which is the purple line here um you know but if it takes a bit longer we could see um continued upside in this 200 period exponential moving average and then this could come in contact with the this level got at least two tests you can really call it maybe three tests uh before we saw a convincing break higher uh we can kind of point to that here this would be the breakout the breakout Point um so um overall you know I do think that we could we could being for a bit of declines here because we're close to losing the uh support created by the 20 period exponential moving average that's the yellow line um so you know if we're not able to maintain support at the 50 period the Orange Line uh then I would expect to see a move back uh toward you know roughly this 1650 level um and then probably a base here for another move to the top side so
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