LEADING STOCKS SEEKING SUPPORT AT THEIR MOVING AVERAGES

Hi Marty,  Hope all is well.

I loved your LEADING STOCKS SEEKING SUPPORT AT THEIR MOVING AVERAGES, from the 3/21/24 report.  Today I found AVGO a buy opportunity.  The AVGO chart reminded me of COST & URBN both which had negative earnings reactions, 6 O'clock  pull backs in volume to the 50, bounce and recover.  I owned both of those and sold even though they didn't break the 50.  They bounced, went sideways and recovered.  Do you tell yourself to hold if it doesn't violate the 50 and buy/add the bounce?

YES!

Gifts (first pull back to the 50) or do protect not wanting to give back and move on.  In the pull back moment of COST & URBN I  was defensive.  Not having owned AVGO I was risk on.   The answer may just be "It's a bull market so if it doesn't violate the 50 guard rail then lean bullish and let the leader run..."  Thoughts?

I am trying to get better at holding on to these winning stocks. In an uptrend there will be shakeouts along the way. But, I believe Broadcom is going much higher. It recently pulled back to its 50sma and found support. Last week it pulled back to its 21ema. We need to embrace these pullbacks. Tech was out of favor last week, and that will change.

The weekly chart shows lower left to upper right. This stock is in a strong uptrend. It will not go up every day or every week/month. But, the trend has not changed, and that is one reason I am working on holding onto these winning stocks longer.

Good luck with that investment. I think you will be happy to hold for awhile!

Regards,

Marty