AVGO Weekly Outlook (Oct 21–25): Bulls Defend the Channel

Watching for a $373 Breakout 🚀

📆 Daily Chart — Macro Structure and Trend Bias
Market Structure:
Broadcom (AVGO) continues to respect its long-term ascending channel, maintaining higher lows since April. Despite recent consolidation, price remains above the channel midline, signaling that the broader trend is still bullish. The recent CHoCH near $345 shows a minor structural shift within this uptrend — a potential retest before continuation.
Buyers have been defending the $340–$345 zone, which aligns with the ascending channel support and prior breakout structure from June. As long as this area holds, the structure suggests accumulation rather than reversal.

Supply & Demand / Order Blocks:
* Demand Zone: $340–$345 (key structure retest + OB confluence).
* Supply Zone: $372–$375 (major resistance from last BOS).
* Deeper Demand (macro): $282–$290 (channel base + 0.382 retracement).

Indicator Confluence:
* 9 EMA & 21 EMA: Flattening slightly but still stacked bullishly; compression phase before next move.
* MACD: Bullish histogram momentum reappearing after fading; crossover possible if bulls reclaim $355+.
* Stoch RSI: Hovering near 70 — bullish continuation potential with no overbought extremes.
* Volume: Accumulation rising near channel support, confirming institutional defense.

If price reclaims $355–$360 with momentum, daily structure resumes higher toward $373–$380 channel top.

⏱️ 1-Hour Chart — Short-Term Structure and Swing Zones

Market Structure:
The 1-hour chart shows AVGO consolidating after rejecting $356, forming a descending wedge pattern — a bullish continuation setup within the broader channel. The CHoCH at $340 and subsequent BOS at $350 suggest an early reversal base forming.
Bulls need to sustain above $348–$350 to keep short-term momentum alive. A breakout through $356.50–$358.00 could trigger an impulsive move to $363–$372.

Supply & Demand / OB Levels:
* Demand Zone: $340.80–$345.00 (retest area for long setups).
* Supply Zone: $356–$363 (upper wedge + prior liquidity cluster).

Indicator Confluence:
* 9 EMA > 21 EMA after flattening — short-term bullish crossover in progress.
* MACD: Histogram turning positive; signal crossover likely on next push.
* Stoch RSI: Rising from oversold (20–40), confirming fresh bullish momentum.
* Volume: Uptick during intraday pushes; fade on pullbacks — healthy bullish structure.

Trade Scenarios:
* Bullish Setup: Entry $348–$350 → Target $363 / $372 → Stop below $340.
* Bearish Setup: If rejection from $356–$358 → Target $345 / $341 → Stop $360.
A clean breakout above $358 confirms a bullish reversal from wedge compression — potentially setting up for a $373 channel retest.

🕒 15-Minute Chart — Intraday Momentum and Scalping Bias

Market Structure:
AVGO’s 15-min structure shows a tight accumulation range between $348–$356. Buyers defended the lower bound multiple times, confirming intraday liquidity building beneath support. A recent BOS and higher low near $348.5 mark a transition from distribution to re-accumulation.

Supply & Demand / OB Levels:
* Demand Zone: $347.80–$349.50 (intraday OB base).
* Supply Zone: $356.00–$358.00 (scalp resistance & liquidity trap zone).

Indicator Confluence:
* 9 EMA vs 21 EMA: Just starting to curl upward — potential re-entry signal for bulls.
* MACD: Momentum improving; early bullish divergence forming against prior lows.
* Stoch RSI: Rising from 20 to 80 — intraday reversal confirmation.

Scalp Plan:
* Bullish Bias: Long near $349–$350 → Target $355.50 / $358.00 → Stop $347.50.
* Bearish Bias: Short rejection from $358 → Target $349 → Stop $359.
Intraday trend neutral-bullish; price reclaiming $355 would trigger renewed buying momentum toward $360+.

📊 GEX (Gamma Exposure) & Options Sentiment Overview

AVGO’s options landscape supports range-bound stability with potential for a gamma breakout above $370. Dealer positioning remains balanced around $350, suggesting magnet behavior until a strong directional move develops.

Key GEX Levels:
* Highest Positive GEX / Call Wall: $372 (strong resistance + dealer hedging zone).
* Second Call Wall: $365–$368.
* Major Put Support: $340 and $320 (solid floor for mean reversion).
* IVR: 24.1 — low volatility, room for expansion.
* Call Flow: 19.5% — relatively light but could rise sharply on breakout.

Dealer hedging pressure remains neutral below $360, but if AVGO breaks above $365–$372, expect momentum acceleration as short gamma triggers. Below $340, dealers likely provide support via mean reversion hedging.

🎯 Closing Outlook
AVGO remains structurally bullish within its macro uptrend but temporarily compressed between $340–$356. The daily channel remains intact, and short-term indicators show early signs of accumulation.

My focus is on a break and hold above $356–$358, which could kickstart a gamma-driven leg toward $373–$375.
If bulls fail to defend $340, expect a controlled pullback to $325–$330 before re-entry into the broader channel.

Disclaimer:
This analysis is for educational purposes only and not financial advice. Always do your own research and manage your risk.