Trend Lines Running Out of Hits: Jake Sweeney's Levels Across AVGO, SoFi, and Walmart

Broadcom supplied Wednesday's headline. Marvell's custom silicon agreement with Google raised questions about who holds Broadcom's most important AI customer relationship, and AVGO sold off. The more useful read is structural. The stock rolled over again from a level it had already failed to reclaim, extending the pattern of lower highs that has been in place since the post-earnings flush.

That is the thread through today's Pro Charts session. Jake Sweeney's read across five names keeps returning to the same condition: trend lines tested five, six, seven times, momentum fading underneath price, consolidations close to resolving. Lines under that much pressure tend to give way, and which side is not knowable in advance.

What is knowable is where price would have to arrive, and how it behaves when it gets there.

Broadcom: A Bull Trap and Three Levels Stacked Tight

AVGO printed its all-time high at $495 and sold off sharply after the earnings print. Five successive lower highs followed, then a run back into that broken level, where the move was shut down. Today's break lower at that same high is what Sweeney reads as a bull trap: price invited another attempt toward the highs before the downtrend reasserted itself.

He is not chasing it. The relative strength index still has room to work toward 30, which argues for letting price come to a level. Three of them sit almost on top of each other below. The pivot top at $317.35 spent a long stretch as resistance before price gapped above it, which makes it the first reference on the way down. A 0.5 Fibonacci retracement level sits at $316.55. Below both, the unfilled April 6 gap sits at $314.43.

How price gets into that zone matters as much as reaching it. Sweeney's framing is that sharp flushes into defined support tend to produce sharp bounces, while a slow grind gives price time to consolidate and continue lower. The swing setup he is describing wants the flush, not the drift. Earnings land September 2, so implied volatility should start building from here.

SoFi: The Bull Flag He Actually Likes

SOFI has the shape Sweeney wants: a sharp advance followed by a downsloping flag rather than an upsloping one. The overhead trend line at $18.95 has taken a fourth, fifth, and sixth test, and today price lacked the momentum to reach it. Near-term support is $17.58.

He is bullish on the structure while already marking where he would sell into strength. The flag's short arm projects a measured move toward $20.75. Above that, the February 10 gap fill at $21.18 stacks with a 0.382 Fibonacci retrace at $21.70, making the $21 area the first credible place for the advance to stall. His note on sizing is worth carrying: light into that zone, not full, and daily flags can resolve quickly.

Walmart: Two Lines Converging Into Earnings

Walmart has been riding an upsloping trend line of higher lows while a downsloping line caps the advance. Price pierced that downsloping line today on the fourth hit, then came back in sharply and sits at $115.60. The upsloping line has now taken a sixth hit.

Two lines under active test with earnings tomorrow is a compression setup, and Sweeney expects heavy volume on the print. He also notes the flag here is upsloping rather than flat to down, the less reliable version of the pattern.

If the break resolves higher, the swing low pivot at $118.02 is the first level in the way, having turned price back in mid-July and at earlier pivots. Above it sits an unfilled gap near $119. Both become potential resistance zones if earnings send price higher.

Lockheed Martin: Price Up, Momentum Down

Lockheed has seven hits into its trend line and could not get back to it yesterday. Sweeney flags the signal underneath: RSI sat near 70, then slipped toward 69 while price continued higher. He reads that divergence as momentum exhausting underneath the grind, a bearish tell.

Support is the pivot top at $578.04, which produced a bounce as recently as Friday. Overhead, a smaller unfilled gap at $623.87 took a wick roughly 80 cents short of a true test and should act as a magnet. The larger gap at $637.92 is the more plausible place for a push higher to stall.

CrowdStrike: Channel Intact, Floor Unproven

CRWD has six hits on the upper band of its upsloping channel dating to the June 1 pivot, got rejected there, and is working back down. Buyers stepped in intraday ahead of a pivot top that never got tested. Below it, the gap at $190.86 and the polarity flip at $182.87. Its lower boundary has only two hits, so it is not yet a line to lean on. That leaves the upper channel rejection as the stronger signal for now. Until the lower boundary earns another clean test, the gap and the polarity flip are the more useful downside references.

Key Levels

Asset Level Significance AVGO $317.35 Pivot top, flipped resistance to support AVGO $316.55 0.5 Fibonacci retracement level AVGO $314.43 Unfilled April gap SOFI $18.95 Flag trend line, sixth test SOFI $17.58 Near-term support SOFI $20.75 Measured move, short arm SOFI $21.18 / $21.70 February gap fill and 0.382 Fibonacci WMT $115.60 Price between converging trend lines WMT $118.02 Swing low pivot, repeated rejection LMT $578.04 Pivot top support, bounced Friday LMT $623.87 / $637.92 Unfilled gaps overhead CRWD $190.86 / $182.87 Gap and flipped pivot support

What Changes the Read

The hit count is the cleanest trigger. A decisive close through Walmart's downsloping line or SoFi's $18.95 strengthens the upside read, while a give on Walmart's upsloping support resolves the compression the other way.

On AVGO, what matters is not a price level, it is the character of the approach. A slow drift into $317 to $314 weakens the bounce case even if the level holds at first. On Lockheed, a reclaim of the trend line with RSI turning back up would neutralize the divergence read.

None of it requires a call on direction. It requires the levels marked before price arrives, and the discipline to let the pattern confirm rather than front-run it.