BROADCOM INC (AVGO) Stock Technical Analysis
NASDAQ:AVGO - Nasdaq - US11135F1012 - Common Stock - Currency: USD
Overall AVGO gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, AVGO is showing a nice and steady performance.
Both the short term and long term trends are positive. This is a very positive sign.
Looking at the yearly performance, AVGO did better than 92% of all other stocks. We also observe that the gains produced by AVGO over the past year are nicely spread over this period.
AVGO is part of the Semiconductors & Semiconductor Equipment industry. There are 110 other stocks in this industry. AVGO outperforms 88% of them.
AVGO is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so AVGO is leading the market.
AVGO is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
AVGO has an average volume of 24797200 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Besides having an excellent technical rating, AVGO also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 246.05, a Stop Loss order could be placed below this zone.
More info and screens
148.08
263.70
We found 3 important support areas.
- A support zone ranging from 244.27 to 246.05. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @154.53 from a trend line in the weekly time frame.
- A support zone ranging from 149.58 to 149.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- Resistance @261.09 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for AVGO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for AVGO is up. |
| ChartMill Relative Strength | 92.98 | POSITIVE | AVGO has a high relative strength, it outperformed 92.98% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of AVGO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of AVGO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of AVGO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 61.41 | NEUTRAL | The RSI value for AVGO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.78 | NEGATIVE | The MACD value suggests AVGO has a negative trend. |
| Stochastics (14,3) | 52.66 | NEUTRAL | The Stochastics value for AVGO is a neutral value. |
| Average True Range in percent/ATR (20) | 3.06 | MEDIUM VOLATILITY | The ATR as a percentage value for AVGO suggests some volalility. |
| Average Directional Index/ADX (14) | 35.65 | POSITIVE | The high ADX value value for AVGO suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 261.10 | 244.26 | 16.84 (6.45%) | 15.50% |
| An entry @261.10. This is a Buy Stop order right above the resistance zone. | An exit @244.26. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 16.84 points, which is 6.45%. | When investing 15.50% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
251.26
+1.89 (+0.76%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySemiconductors & Semiconductor Equipment
Performance
% Chg0.76%
1 Week-0.65%
2 Weeks-3.76%
1 Month8.45%
3 Month31.1%
6 Month13.8%
12 Month51.49%
2 Year189.66%
3 Year417.2%
5 Year696.11%
10 Year1790.17%
15 Year11830.7%
Volatility
ATR(14)7.96
ATR(20)%3.06%
ATR Inc-24.62%
Range Today6.23
ADR(20)7.06
ADR(20)%2.81%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS92.98
Mansfield2.59
10 Day High264.89
10 Day Low241.11
20 Day High265.43
20 Day Low226.18
52 Week High265.43
52 Week Low128.5
CS1 End246.05
CR1 Start261.09
Volume & EV
DER(3)0.01%
DER(5)0.86%
Volume30.44M
Volume Incr-2.9%
Vol(5)22.45M
Vol(50)24.80M