Broadcom lost a key support level and shows a bearish trend with a downward-sloping 21-day EMA and potential head and shoulders on the weekly chart, requiring a clear reversal pattern.
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Technical Analysis of Stocks: SPY / QQQ / NVDA / TSLA / AMD / PLTR / AVGO
The creator analyzes the current stock market, expressing skepticism about the recent rally due to a lack of strong technical reversal signals. While acknowledging potential short-term bounces, the focus remains on the need for higher highs and higher lows to confirm a true trend reversal. The creator discusses specific stocks like SPY, QQQ, NVDA, TSLA, AMD, PLTR, and AVGO, emphasizing caution and a preference for low beta stocks.
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Tickers discussed in this post
Palantir is showing a promising reaction above the 140s support but needs to break resistance at 148 and the 21-day EMA for a true bullish reversal, as one candle is not enough.
Tesla is consistently bearish with lower highs and lows, and while a short-term bullish recovery is possible, a true reversal requires breaking key resistance levels.
Nvidia is showing a promising reaction above support but remains below the 21-day EMA, requiring more technical evidence for a true reversal, as it's a market leader.
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