Covers the gap to 148 But I'm comfortable seeing this grow over time; it is an investment to keep an eye on. But there could still be some downside to it first.
AVGO trade ideas
$AVGO is now trading in rangeBroadcom (AVGO) serves a variety of major customers across different industries. Some of their leading customers include:
- **Apple**
- **Samsung**
- **Cisco**
- **Hewlett-Packard (HP)**
- **Huawei Technologies**
- **Alcatel-Lucent**
- **ZTE**
- **Arris**
- **Pace**
- **Thomson**
These companies incorporate Broadcom's products in their wired and wireless communications equipment and devices³.
Broadcom - AVGO - BUY IT!Dear traders,
Id like to share this idea in order to take long positions,
140- 150$ is is a good price range to look for buying opportunities.
Like the other semiconductors companies Broadcom is still in a uptrend, it is just correcting (WHICH IS NORMAL), it is time start buying again.
best,
AVGO: This is a Critical Support Level. (D&W charts)AVGO presents an interesting setup on its daily chart, where the price recently encountered a bearish pivot point. This point is marked by a descending trend line and a notable rejection from the highs around 180. The stock has retraced to test the support area near 156.40, which aligns with a previous support zone. The bearish pivot point indicates potential weakness, and the price action will be critical to watch as it trades around this support level.
On the weekly chart, AVGO demonstrates a more comprehensive perspective with a double support area at the 21-week EMA and the 143.82 horizontal support line. This area has provided significant resistance in the past, and its confluence with the weekly EMA enhances its importance. If the price triggers the bearish pivot point seen on the daily chart, then this double support area will be our next target.
Is there a chance that AVGO will react above the $156 support? Yes, but we need to see bullish signal there, and so far, there isn’t any technical evidence suggesting that.
In summary, AVGO's price action is currently testing key support levels on both the daily and weekly charts. The reaction at these levels will be critical in assessing whether the stock can maintain its upward trajectory or if further downside is likely. The intersection of the daily bearish pivot and the weekly double support creates a focal point for us to monitor closely.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
157 like with nividia this may find a solid bottom firstThe resistance hit is a slowdown of buyers which could mean there is going to be a correction causing the ticker to make a retrace.
Weekly Analysis for 7/15/2024 - NFLX Earnings and Semi HypeThere's not a lot going on in terms of the economic calendar this week, but we are beginning earnings season with NFLX and we have a lot of bullish hype for semis. AVGO has its stock split and news came on Friday of SMCI's inclusion in the Nasdaq. Hoping for some more volatility, it seems like it should be a good week for trading.
AVGO Stock Split - Long IdeaIn addition to the hype for the SMCI Nasdaq inclusion, we also have the AVGO stock split starting this week. It could be an explosive week for semiconductors. I like this setup on AVGO, but it may not trigger anytime soon. If we do get a pull back to retest the ascending wedge, it would be a great long setup. If it doesn't hold, it becomes a short setup.
AVGO building out a triangle AVGO building out a triangle - mostly likely will break out of this range on week of 7/22 - let's put this on watch!
Long term - this stock is far from done
Cup and Handle Pattern Nearly CompleteI wrote about this in another post, but the chart is easier to see in this one.
The cup and handle pattern on AVGO looks nearly complete on the hourly. Looking at the fib retracement, the bottom of the cup bounces nicely off of the 0.5 line, bouncing off of resistance at the 0.786, and the handle seems to be making it's way back up today.
If we can get past the $1750 price at the 0.786, with the AI narrative and stock split ahead, I see a potential move up to $2,200 on momentum. The market is certainly due for a correction at some point, but I don't see it happening until later this year.
Time will tell, and we'll just have to wait and see what happens.
AVGO: Buy idea Buy idea on AVGO if only if we have the breakout with force the vwap indicator by a big green candle...
1800 idea not too shabby may not get DTOpen season, the stark contrast of a sudden squeeze is less likely, but positioning itself closer to 2000 isn't after the split with 4 trading days to go, I see a Bull with no end in sight till the end of the bell.
AVGO Cup and Handle forming?Looks like a cup and handle pattern is forming nicely on the hourly chart ahead of the Broadcom stock split.
I can’t help but feel like we’re getting close to a top within the tech sector, but the momentum is still there driving this stock higher, and NVDA has shown us that a 30% boost post-split is very possible.
Broadcom: Should I stay or should I go now? Go and Sell/Short..Technical Analysis of Broadcom Inc. (Ticker on Nasdaq: AVGO)
Broadcom (AVGO), which at the time of writing on Monday 08 July 2024 is traded for around USD 1,731.00, has had a very strong rise in recent years, but now there may be a correction soon for this share.
The share has increased nearly tenfold in the past three years from 2021 to 2024, and now the share is facing significant technical resistance around the current price level, and up towards the upper trend line in this long-term upward trend.
There is also a recent 'gap' up which, according to technical analysis theory, should be 'covered' and this indicates that a correction may come in the share within a short time.
The share is heavily overbought in the short and medium term, and thus now faces considerable technical resistance around the current price level.
The overall technical picture for Broadcom (ticker on Nasdaq: AVGO) thus signals that the stock is probably facing a correction and initially and in the very short term down to around USD 1,500 (and close the gap), but preferably also down to test the support level at the 200-day moving average (down towards USD 1,220 - 1,300).
There may well be a test of the support level down towards the lower trend line in the long-term rising trend also during the next 3-6 months, which in that case will mean a decline down to around USD 940.00 - 1,000.00.
Yes, the overall technical picture today for Broadcom Inc. (AVG) indicates a short-term correction down to around USD 1,400 - 1,450 and in the medium term perhaps a correction down to around USD 940.00 - 1,000.00.
Please don't shoot the messenger. :-)
is it going to be 150, 160 or 170 or more after the splitWhat a sell-off! With five trading days to go, this has sunk deeper than deep; from the stock split around the corner, many had predicted the 10:1 to be closer to 200 when it was approaching 2000, but now it seems there may be a bounce off the 100 EMA that is lurking around 1600, or the slight retrace was due to a correction. Still, the strong market after the 4th of July makes me think it is playing in the hands of a select few who need to position at a comfortable price. Not enough data to suggest which direction it will go from here.
Possible final rally? Possible final rally? The price is in a calm rising trend. Both price and volume first rise sharply, and then fall sharply again. We need some time before we see if the hypothesis holds.
Price momentum indicators and analysts are predominantly on buy.
Remember, you have to do your own research and assessment before buying and selling.
Note: I have no dispositions in the stock.
FVGO COULD SE 1800 THIS WEEKwww.tradingview.com
Look for it to hit 1800 after it breaks 1661 . my chart is simple I trade using the Strat
$AVGOConsolidation building beautifully, this and NASDAQ:NVDA are about to explode. Keep you eyes peeled to this and NASDAQ:NVDA LONG DONG STYLE!
AVGO support and resistanceHere's a 4hr chart of AVGO support and resistance levels. I'm posting this as a short only because AVGO is at the top of it's resistance level. However, I will not be shorting it immediately. I will be watching AVGO price action for the right timing.
Broadcom AVGO announced Q2 Fiscal Year 2024 Financial Results. Raised guidance for fiscal year 2024 consolidated revenue to 51 billion and adjusted EBITDA to 61%. 10-for-1 forward stock split of Broadcom's common stockholders of record after the close of market on July 11, 2024 will receive an additional nine shares of common stock after the close of market on July 12th, with trading on a split-adjusted basis expected to commence at market open on July 15, 2024.
Q2 2024 results:
EPS = 10.96 beat 1.08%
Revenue = 12.49 B beat 3.96%
Are We Ready for All-Time Highs? A Closer Look at AVGOAVGO, once recognized as Broadcom Inc., stands as a key player in the global tech landscape, providing a variety of semiconductor and software solutions. These products find applications across multiple sectors such as telecom, data storage, and industrial automation.
For H1 2023, AVGO recorded an impressive $18.76 billion in earnings, marking a 25.6% YoY increase. The EPS for the same period rose by 21.4% YoY to $10.32. Forecasts suggest a Q3 2023 EPS of $10.42, reflecting a 7.09% YoY growth.
The company's revenue surge is fueled by robust demand in the data center, networking, and storage domains. Additionally, the burgeoning Internet of Things (IoT) and 5G markets are further augmenting AVGO's growth trajectory.
**Important Levels to Watch**:
- 923
- 976
- 1072
- 1169
**Projected Growth**:
Expectations indicate a 7.5% CAGR in revenue and a 9.5% CAGR in EPS from 2023 to 2025, positioning AVGO for sustainable growth.
**Key Growth Catalysts**:
- **Data Center Demand**: Businesses are increasingly shifting towards cloud computing and other data-centric technologies, causing the data center market to swell. AVGO has a firm footing here with its range of switches, routers, and storage solutions.
- **IoT Market**: The fast-growing IoT sphere is adopting more connected devices, and AVGO's chip and software contributions are noteworthy in this sector.
- **Market Diversification**: AVGO's recent forays into new areas like automotive and industrial automation are opening new revenue and earnings avenues.
In summary, AVGO has a solid earnings history and is strategically positioned for continued upward momentum. Keep an eye on the mentioned key levels as we might be setting the stage for new all-time highs.
Thank you for reading and let’s continue watch this amazing company. Dr saud
AVGO - Bull Put Spread on Broadcom-1545 +1540 Jul 12th Premium: $170.00 on $834.59 capital, or 20% gain... will look to close at 50% profit or 10%.
Learn Options Trading via DorianTrader
Resistance AND Support "The candlestick and support-resistance lines of AVGO stock are intriguing. Based on the RSI line dropping below 70 and then rebounding, it suggests a continuous upward trend may follow."
"Investors should understand the nature of the product, return conditions, and risks before making investment decisions."
Resistance AND Support "The candlestick and support-resistance lines of AVGO stock are intriguing. Based on the RSI line dropping below 70 and then rebounding, it suggests a continuous upward trend may follow."
"Investors should understand the nature of the product, return conditions, and risks before making investment decisions."
Broadcom - Just be careful...NASDAQ:AVGO is quite overextended and retesting resistance so you have to be careful.
Broadcom is rallying. This is a pretty obvious fact, considering that Broadcom is up roughly +330% over the past 1.5 years. Eventually we will see a correction, the only question is when and where. Currently, Broadcom is retesting a resistance trendline which has been pushing price lower for over a decade. Maybe this is a good area to close partials and monitor price closely.
Levels to watch: $1.840, $1.140
Keep your long term vision,
Philip - BasicTrading
