AVGO approaches a new 52-week high Since testing $150 in the beginning of June, AVGO has been trading sideways, overall. During that time the stock has hit that same resistance at $150 (red) on multiple occasions. On Friday, AVGO tried to break out above that $150 level, but ultimately the stock closed back below it. A close above the $150 level should lead to another leg higher for stock.The Tale of the Tape: AVGO has a 52-week resistance at $150. The possible long position on the stock would be on a breakout above that level with a stop placed under it. Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!Good luck!Christian Tharp, CMT@cmtstockcoach