$Broadcom(AVGO)$ NOV20 355C st

$Broadcom(AVGO)$ NOV20 355C still looks actionable.

Zone: $337.70 to $342.50

Invalidation: close under $330.80

Objectives: $362, then $380

The math: up 6.4% to the first objective and 11.7% to the second, against 2.7% risk on the invalidation, better than 4 to 1 to the second.

Think of this as a good house that took a hard week of weather and is still standing straight. Broadcom has slid for days, yet buyers held the $330.80 low and the price lifted to $340.12 after the close, which means the selling finally met people willing to own it. A close peer in AI servers just guided sales well above what analysts expected, and that matters because it says demand for the gear Broadcom helps build is still hungry. This is a swing setup, plain and simple: own the bounce while $330.80 holds, and let $362 prove the turn is real.

The one thing to watch next is a close back above $342.50, the top of the zone, because that would turn a bounce into a reclaim.

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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