$AVGOBroadcom Inc.BATS:AVGOKalaGhaziExecutive Summary: A significant technical development is underway for Broadcom Inc. (AVGO). Beginning around Monday, April 7th, the stock has shown early signs of a potential trend reversal, characterized by the formation of a new ascending trendline. This bullish structure is consolidating within what appears to be a Symmetrical Triangle pattern, a classic formation that typically resolves in the direction of the preceding trend. The immediate resistance to monitor is the $340 level. A decisive breakout above this ceiling could trigger a powerful upward move, projecting a medium-term price target of $400. Key support levels are established at $330 and more critically at $300, which would act as the final defensive line should the pattern fail. Detailed Technical Breakdown: 1. Emergence of a New Bullish Structure: The price action observed from April 7th onwards is critically important as it marks a departure from previous consolidation. The formation of a higher low series, connected by a rising trendline, indicates that buyer demand is becoming more aggressive at successively higher prices. This ascending support line forms the lower boundary of the current technical setup and is the primary evidence for a strengthening short-term bullish bias. 2. The Symmetrical Triangle Pattern: The price action is currently contained within the converging bounds of the ascending support line and a descending or flat resistance line near $340. This creates a Symmetrical Triangle pattern, which represents a period of indecision where the forces of supply and demand are nearly in equilibrium. Implication: This pattern is a continuation pattern, meaning it typically pauses a larger trend (in this case, the long-term uptrend) before resolving with a breakout. The coiling action builds energy, often leading to a significant price move upon exit. Trigger: The trigger for a bullish move is a decisive breakout above the $340 resistance level, confirmed by a strong bullish candle and, ideally, an increase in trading volume. 3. Critical Price Levels: Support and Resistance: Resistance: The $340 level is the immediate technical hurdle. A sustained break above this, especially on high volume, is the required catalyst to validate the bullish thesis and signal the next leg up. Support: Primary Support ($330): This is the dynamic support offered by the ascending trendline. A bounce from this level reinforces the bullish structure. Major Support ($300): This is a crucial psychological and static support level. A breach below the ascending trendline would invalidate the current bullish pattern, and a fall to $300 would represent a much deeper correction. This level must hold to prevent a more significant bearish reversal. 4. Projected Target and Strategic Outlook: The measuring technique for a Symmetrical Triangle involves calculating the height of the pattern's widest part and projecting that distance upward from the point of breakout. Price Target: A successful breakout above $340 projects a move towards the $400 zone. This objective aligns with both the technical measurement and the round-number psychological resistance, making it a credible and significant target. Strategy: The tactical approach is to monitor the price action around the $340 resistance. A confirmed breakout offers a potential long entry with an initial profit target at $400. Stop-loss orders should be placed strategically, ideally below the ascending trendline (near $330) or more conservatively below the $300 major support, depending on risk tolerance. The integrity of the ascending trendline from April 7th is key to maintaining this optimistic outlook.