$Broadcom(AVGO)$ NOV20 345C, s

$Broadcom(AVGO)$ NOV20 345C, still actionable.

Zone: $332.25 to $336.93

Invalidation: close under $324.52

Objectives: $348.16, then $361.86

The math works out to 4.1% upside to the first objective and 8.2% to the second, against 3.0% risk at the invalidation level. That's better than 2 to 1 to the second target.

Think of this swing setup like a house that slid down a hill a bit, then found flat ground. Broadcom dropped more than 7 percent in five days, then held the $333.82 low and closed at $334.59, up 1.8 percent. Buyers stepped in right around $334, where an old gap and a deep retracement sit close together, so the floor isn't a guess. It's an area people defended before. If that floor breaks on a close under $324.52, the setup is off. If it holds, there's room back toward $348.16 first, then $361.86.

Watching $340.20 as well, the high of the day. A close above it would show buyers pushing again, not just defending the low.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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