Hello There,

welcome to my new analysis about AVGO from a weekly timeframe perspective. In the current stock market, there are a lot of stocks that form bearish setups and are likely to accelerate bearish pressure along the line. One of them is AVGO, it could lead to a major bearish decline once the bearish formation has been completed. Therefore, I have spotted all the pivotal technical factors to consider in the upcoming times.

When looking at my chart, we can see how AVGO is forming this huge ascending triangle formation. It also already completed the wave count within the formation and now pulled back from the upper boundary, approaching a final breakdown below the lower boundary. Once the final breakdown happens, as shown in my chart, this is going to lead to the setup for further bearish declines to emerge.

Especially when the bearish volume increases massively, this is going to accelerate the bearish dynamic. Once the whole formation has been completed, AVGO will activate the bearish target zones as marked in my chart. When AVGO continues with an acceleration of bearish volume and momentum, further bearish targets and an accelerated bearish decline are highly likely. In any case, the bearish dynamic should not be underestimated.

In this manner, thank you a lot for watching!
The support is highly appreciated.

VP