Broadcom has officially reached its top within our projected price target zone, between the 61.8% at $460.83 and the 100% at $566.35. The all-time high is at $495. From there, Broadcom has initiated a long-term corrective phase to correct the major cycle high, with yellow wave 1 moving into yellow wave 2.
For the end of this long-term major correction, we have set a Fibonacci retracement zone, which functions as a long-term buying opportunity for this stock.
Long entry levels:
- 50% at $248.22
- 61.8% at $189.97
- 78.6% at $107.05
From there onward, we expect the major correction to come to an end and to start new bullish long-term impulses into a major new uptrend.
If anything happens with this stock, we will update you immediately.
Kind regards,
Monalytics
DISCLAIMER: The content on this website, including charts, analyses, and recommendations, is for informational purposes only and does not constitute financial, investment, or professional advice. Trading and investing involve risk. You should consult a qualified financial advisor before making any investment decisions.
