BROADCOM INC - AVGO 8 09/30/22 (AVGOP) Stock Technical Analysis
NASDAQ:AVGOP - Nasdaq - US11135F2002 - Currency: USD
Taking everything into account, AVGOP scores 1 out of 10 in our technical rating. AVGOP has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
AVGOP is currently making a new 52 week low. This is a very bad signal. Certainly because the S&P500 Index is trading near new highs.
In the last month AVGOP has a been trading in the 1387.76 - 1709.95 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.
Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.
When comparing the performance of all stocks over the past year, AVGOP turns out to be only a medium performer in the overall market: it outperformed 58% of all stocks.
AVGOP is an average performer in the Semiconductors & Semiconductor Equipment industry, it outperforms 53% of 110 stocks in the same industry.
The technical rating of AVGOP is bad and it also does not present a quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
1,392.62
1,702.65
When analyzing the support we notice one important area.
- A support zone ranging from 1406.69 to 1406.69. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 1540.76 to 1554.45. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 1677.54 to 1685.79. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | DOWN | NEGATIVE | The long term trend for AVGOP is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for AVGOP is down. |
| ChartMill Relative Strength | 58.95 | NEUTRAL | AVGOP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of AVGOP is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of AVGOP is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of AVGOP is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 32.49 | NEUTRAL | The RSI value for AVGOP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -15.27 | NEGATIVE | The MACD value suggests AVGOP has a negative trend. |
| Stochastics (14,3) | 2.55 | OVERSOLD | The low Stochastics value suggests AVGOP may be oversold. |
| Average True Range in percent/ATR (20) | 2.66 | MEDIUM VOLATILITY | The ATR as a percentage value for AVGOP suggests some volalility. |
| Average Directional Index/ADX (14) | 20.06 | NEUTRAL | The ADX value for AVGOP suggests a possible start of a new 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)
BROADCOM INC - AVGO 8 09/30/22
NASDAQ:AVGOP (9/29/2022, 8:11:34 PM)
1406.7
-37.32 (-2.58%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySemiconductors & Semiconductor Equipment
Performance
% Chg-2.58%
1 Week-6.57%
2 Weeks-10.74%
1 Month-17.73%
3 Month-9.77%
6 Month-27.88%
12 Month-11.46%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)32.58
ATR(20)%2.66%
ATR Inc3.9%
Range Today44.69
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS58.95
Mansfield-0.45
10 Day High1584
10 Day Low1387.76
20 Day High1709.95
20 Day Low1387.76
52 Week High2099.51
52 Week Low1387.76
CS1 End1406.69
CR1 Start1540.76
Volume & EV
DER(3)0.37%
DER(5)0.22%
Volume36.90K
Volume Incr13.95%
Vol(5)77.54K
Vol(50)40.60K