Chart Patterns & Algorithmic Trader (Jan. 28, '20) (54)
AVGO Cup & Handle Pattern
s
Reviewed in CPAT
Broadcom Inc (AVGO) is forming a Cup and Handle pattern on its daily chart and trading
near the breakout level of $331.68. C&H patterns are valid only when price closes
above the breakout level. A long trade is entered above the breakout level with a stop
placed below the lowest low of the mid cup $243.63, and the handle low $292.36.
Targets are placed at $398.43, $440.3 to $469.8.
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