AVGO consolidating after channel break; near-term breakout possible toward $39,181 resistance.

On the opposite end of the spectrum, a different type of wedge pattern is going on here on AVGO's chart. Now, this is the daily time frame with AVGO cleanly has broken underneath its inclining parallel channel, one that goes all the way back here to December of 2024. Now, we've been struggling. AVGO has to get back inside that parallel, getting rejected, getting rejected, and most recently today getting rejected by this declining trend line from pivot to pivot to pivot, prevented it from even getting close to knock on the door of that parallel channel. Now, the good news with AVGO, it's come up now two consecutive days after hitting it the first day here yesterday on Tuesday. We didn't really retreat from that hit. In fact, we're closing back up near where we closed yesterday. In fact, a little bit higher than where we did, just 70 cents higher. So, this is actually good consolidation for AVGO. We'll see tomorrow. Do we continue to consolidate right here on this declining trend line, potentially pierce it again tomorrow? The more and more hits within the short distance time frame means that we're likely getting ready to pierce through this declining trend line with the next target, that everpresent inclining parallel channel at $39,181. That has been a clear line of resistance. most recently. So, near-term potential breakout on AVGO with an overhead cap of resistance not that far away, but much like the Meta chart, it has already regained its parallel. Something that AVGO certainly could be working to do in getting through initially this first level of resistance.