BROADCOM INC (NASDAQ:AVGO) – A Strong Growth Candidate Meeting Minervini’s Trend Template

BROADCOM INC (NASDAQ:AVGO) has been identified as a high-growth momentum stock that aligns with Mark Minervini’s Trend Template criteria. The company’s strong technical setup, combined with accelerating earnings and revenue growth, makes it a compelling candidate for investors focused on high-growth opportunities.

Why AVGO Fits the Minervini Trend Template

Minervini’s Trend Template focuses on stocks exhibiting strong uptrends with favorable moving average alignments and relative strength. AVGO meets these criteria:

• Price Above Key Moving Averages: The stock is trading above its 50-day ($203.95), 150-day ($203.33), and 200-day ($194.70) moving averages, confirming a bullish trend.
• Upward-Sloping Moving Averages: The 150-day and 200-day moving averages are trending upward, reinforcing long-term strength.
• Relative Strength: With a ChartMill Relative Strength (CRS) score of 90.46, AVGO outperforms 90% of the market, a key trait of leading stocks.
• Price Near 52-Week High: At $244.28, AVGO is within 8% of its 52-week high ($265.43), indicating strong momentum.

High Growth Momentum Fundamentals

Beyond technical strength, AVGO demonstrates robust growth metrics:

• Earnings Growth: EPS grew 34.1% year-over-year (TTM), with recent quarterly growth accelerating to 44.2%.
• Revenue Growth: Sales increased 33.9% (TTM), with recent quarters showing consistent double-digit expansion.
• Profit Margins: The company maintains strong profitability, with a trailing quarter profit margin of 33.1%.
• Analyst Revisions: EPS estimates for next year have been revised upward by 4.96% over the past three months, signaling improving expectations.

Technical Outlook

According to ChartMill’s technical report, AVGO scores a perfect 10 on technical health, supported by a long-term uptrend and strong relative performance. However, the setup rating is currently low (2), suggesting the stock may need a consolidation phase before an optimal entry point emerges.

For a deeper technical breakdown, review the full technical report here.

Our High Growth Momentum + Trend Template screener lists more stocks meeting these criteria and is updated daily.

Disclaimer

This is not investment advice. Always conduct your own research and consider risk management before making investment decisions.