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here we have attempting to base itself and present a bit of a rally here higher after posting near-term lows coming in at 12850 we have closed the most recent trading session uh at roughly 16575 so this is this is a significant development because it does suggest that the stock was able to move above prior resistance levels coming in at 16130 and then we even did see a share price Gap here uh which does suggest that there was a bit of upside momentum here that was propelling the stock higher but there at the same time you know even though we are seeing this price movement here uh there are some risks that are involved with the stock and we do need to sort of cover those uh as well as Identify some important important trading levels that can be used to uh establish new strategies in this stock going forward so as we can see here uh the prior Trend lower was quite quite forceful and very decisive uh in addition to that we even did manage to break below the prior price lows which would have occurred during the early June 2024 trading period so we have seen a a large amount of two-way price action here that has uh unfolded in both directions so you know even though we have seen this upward price movement here I understand that's probably very encouraging for people that are currently along this stock we're starting to recover some of those losses but we do have to keep in mind that this has been a a wild ride here over the last two months uh there's been a lot of upward and downward price movement and many of these positions you know a lot of these position positions are just starting to recover some of those losses uh rather than really presenting new gains so uh for this reason you know I do want to make sure that people aware of the members only portion of this channel because there are some very strong trades there that have been uh unfolding and have been uh released over the last few weeks specifically um you know the trade that we took two weeks ago has already seen gains of 46% uh in less than two full week period trading sessions so you know very limited draw down uh draw down of roughly 5 to 6% at most in in most of these stocks um and I think that the worst performer currently is still showing gains of uh positive gains of 10% so overall you know the the the real activity here that we're seeing in broadcom has been encouraging but what needs to be kept in mind is that you know a lot of these gains are really just sort of recovering recent losses rather than you know building on uh building on the stock so um you know if we go back in time here we can see that there was even actually a false breakout to the downside um share prices did reach lows of 12850 and the real question that investors need to be asking themselves at that point is you know how much loss did occur as share prices were moving into that area so you know as things currently stand uh we are looking at at a price close of 16575 this is positive because we did we did manage to close the week Above This 160 130 level that we had been watching previously um but you know as share prices have moved above the exponential moving average cluster here what we need to understand is that you know the deviation from the mean here uh the distance from the longer term moving averages has become quite far there's a lot of distance here between this stock and the moving averages so you know in most cases the most likely scenario is for share prices to revert back to their longer term averages uh that that is you know more often than not much more often than not uh what is typically seen for this stock and and in the stock market as a whole you know and we can see several examples of this I mean even back here we saw it to the downside we see share prices attempt to break above the exponential moving average cluster sort of fail here and then we saw a major price movement lower as this happened uh share prices deviated a major distance very far from these exponential moving averages and then this is ultimately what caused the share price to move higher we needed to move back toward the averages so in in many ways the similar you know the similar situation is occurring here to the top side you know what is the distance here we're even we're even seeing share price gaps that will eventually need to be filled at some point so these these candles are green no doubt about it we also saw a positive close above the 160 130 level no doubt about it these are positive developments but if we do start to see a bit of a Slowdown here a bit of a A halting in the in the upward momentum we will need to fill in this price Gap here if share prices fall back below let's get an exact number here this would be 16035 so if we break below this 16035 here we are now going to need to fill this price Gap to the downside and this could initiate some new uh some new bearish momentum for the stock in addition to that you have to watch the relative strength index which is coming very close now stock could could see a little bit more a little bit more of a gain here before reversing but at some point here we're going to start to reach overbought territory so the real question is when does that happen um you know as things currently stand you know we're we're above all the near-term uh resistance levels and then in addition to that as you can see here I won't draw it on the chart because it makes things a bit messy but we've also broken above this prior downtrend so these are all positive developments um broadcom is an excellent company um you know it's got a very very strong future um you know but the real question is you know how how much have share prices moved recently and how much more of this price move is going to be sustainable in my view what we're going to need to see here is a reversion back toward these moving averages uh so at some point uh you know we're going to see a roll over here uh relatively soon so I do want to make sure that people are aware of the uh of the trading room uh we do have very clearly defined uh trading strategies that are outlined there and those stocks are absolutely exploding with very little draw down um you know the share price action here in broadcom is encouraging and we are starting to recover some of these lows uh but I think it's very easy for people to forget what happened before um you know we did see massive price declines here 185 all the way down to 12 and then as that happened we even broke below the price lows that were generated previously so you know this we're still in a bit of a dangerous trading environment here um and there is still potential for gain for for gains to happen um but you know the the extent of those gains um is starting to look a bit limited as these stocks move into uh overbought territory so you know if we were to start to look at at potential downside price movements uh the first the first price level that I would be watching comes at roughly 15560 uh this would Mark the top of the exponential moving average cluster as we can see here this yellow line uh is is uh rapidly descending at rapidly ascending at this point uh so this is the top of the exponential moving average cluster and this is an area that could offer some support if we do see price share prices Trend lower so that would be roughly $11 from now um I don't necessarily believe that we're at the top of this of this uh price movement here because we have broken uh above the prior downtrend and above prior his hisorical resistance zones uh but I do think that the gains from here are going to have to be somewhat limited given the fact that share prices have deviated quite far from its own ]
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