OPTIONS TRADERS CO-OP

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$AVGO | Broadcom Limited | Options Trade Idea Ahead Earnings

$AVGO Technicals

Technically, the chart looks phenomenal! From the Dynamic Trend Indicator (available on Alphashark.com or email [e-mail] for link) AVGO meets all the criteria for a long or if already long stay with the trend. The multiple time frame analysis confirms positive momentum with price above the wave. Overhead resistance is at 241.4 which AVGO is knocking on currently on the path to new all-time highs. Usually when a stock is approaching new highs weak hands will try to short it leading to a breakout on volume to new highs as the shorts will have to cover. Remember, we want to be strong hands as smart traders and not fight the trend!

As of May 25, 2017, AVGO is trading at 240 with the expected move for June 8th option expiration is $13.00 I can find the expected move by adding the ATM straddle for the week of expiration. Therefore, if I add 240 + 13.00 = 253.00 as an upside target for an options play expiring on June 8th expiration.

Get the Full Options Trade Idea Setup and Chart HERE >>>>>