$Broadcom(AVGO)$ NOV20 350C is

$Broadcom(AVGO)$ NOV20 350C is still actionable.

Zone: $335.44 to $340.16

Invalidation: close under $330.80

Objectives: $360, then $380

The math: up 6.6% to the first objective and 12.5% to the second, against 2.1% risk on the invalidation, better than 6 to 1 to the second.

Broadcom fell from near $380 early this month to $328.75 last week, held above $330.80 on Tuesday, and closed Wednesday at $337.80, up 1.0%. Sellers pushed hard and the floor stayed put. If that floor keeps holding, the path back toward $360 is ground this stock already covered not long ago.

P.S. Watch $341.10 first. That was Tuesday's high, and a close above it would show buyers paying up again.

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