Just a week ago, Broadcom Ltd (NASDAQ:AVGO) reported solid earnings results. The stock which was trading at all-time highs opened the day sharply higher as investors cheered. Then it reversed. Broadcom Ltd gave up all the gains, closing near the flat line. The daily stock chart put in an ugly reversal candle that day. Since then, shares of Broadcom have floated sideways, forming a bear flag pattern. Every smart investor knows this is not a good sign. The stock is destined to collapse in the coming months, possibly finding its way to a target of $170.00.
Bearish stock chart analysis signals sell on Broadcom Ltd
Bearish stock chart analysis signals sell on Broadcom Ltd
