Friday, June 11, 2010

AVGO...

AVGO is another leading stock setting up in a beautiful base that is currently within a few cents of trading at its pivot buy point. It has formed a beautiful cup and is now in the process of shaping out a nice handle. The volume pattern also looks very good. The buy point is $22.00. Here is the chart:




I am tempted to trade a breakout in this stock if it does break out. However, I am reluctant on as this stock has historically been somewhat of a slow mover. So if I do decide to take a position in this stock I will most likely use in the money options for a bit of leverage.

Good luck and good trading!
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