In this daily bar chart of AVGO, below, we can see a tighter and tighter trading range from early May - we have higher lows from May to June to August, and lower highs from May to July. Prices are close to the apex and we should have a breakout very soon.
The rising 200-day moving average line has been tested a number of times. Trading volume has decreased from June to August which is typical of a narrowing high/low range.
The daily On-Balance-Volume (OBV) line has been mostly flat from May suggesting a balance between bulls and bears.
The Moving Average Convergence Divergence (MACD) oscillator is below the zero line in sell territory but it has narrowed towards a possible cover shorts buy signal.
In this weekly bar chart of AVGO, below, we can see the same equilateral triangle formation with prices just above the rising 40-week moving average line.
The weekly OBV line has been moving sideways and the MACD oscillator on this time frame is bearish but still above the zero line.
In this Point and Figure chart of AVGO, below, we can also see that pattern of a rising uptrend and a declining downtrend. The software has found more failed attempts to go higher than to go lower and thus we see a downside price target of $222 being projected.
Bottom line strategy: The big problem with equilateral triangles is that they can break out in either direction - up or down. The bigger trend for AVGO is up but I have seen too many stocks break to the downside in the past two months to ignore the risk. Protect long positions will sell stops below $260.