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BROADCOM INC CEDEAR EACH 39 REPR 1 COMBROADCOM INC CEDEAR EACH 39 REPR 1 COMBROADCOM INC CEDEAR EACH 39 REPR 1 COM

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AVGO trade ideas

Broadcom Makes a Higher LowSemiconductor stocks have struggled along with the broader market, but a few have managed to outperform. One of them is Broadcom. The most interesting feature on AVGO’s chart is the series of higher lows, including Monday’s dip under $475. In contrast, the Nasdaq-100 made a lower low versus August. Next, the bounce is occurring at the 100-day simple moving average (SMA). That line has provided support since the beginning of June. Third, stochastic recently dipped to an oversold condition. Given the forward calendar, with earnings over the next few weeks, traders may view this an interesting moment for a stock showing signs of resuming its longer-term uptrend. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:AVGOLong
by TradeStation
Ever Hear Of A Coiled Spring?AVGO daily chart is setting up for a huge breakout, should the right market conditions present themselves. Trading at only 14x FWD EV/EBITDA, this cheap semi conglomerate has a lot of upside should XLK continue its outperformance and the market remains how it has been. Earnings revisions have been trending upwards as well. Fiscal EPS Esti YoY Gwth 1M Trend 3M Trend 6M Trend Oct 2021 27.60 24.56% 0.00% 2.44% 4.68% Oct 2022 30.11 9.10% 0.00% 3.60% 6.22% Oct 2023 31.98 6.18% 0.00% 4.22% 24.76% Oct 2024 31.87 -0.33% 5.92% 16.48% - Oct 2025 33.29 4.46% 6.97% - - Something to keep an eye on. Cheers!
NASDAQ:AVGOLong
by PropNotes
5
Tight Squeezes Across the Chip SpaceSeveral chip stocks are squeezing into tight ranges with breakout potential. Notice how Broadcom briefly knifed under its 50-day simple moving average (SMA) on July 2. (It followed an antitrust complaint.) The bears quickly surrendered, and a week later AVGO had its highest close since mid-April. So you have a false breakdown and a strong bounce outside of the range. That could draw some buyers from the sidelines. That could be even more true now because the price channel has been abnormally tight, with Bollinger Band Width recently hitting the lowest level in 5+ years. AVGO isn’t the only chip stock in that’s been treading water as business remains strong. Taiwan Semiconductor’s band width recently hit the tightest reading in a year. TSM also just bounced at its 50-day SMA, a line that was resistance in April but is now support: Both companies have also been straddling their 100-day SMAs. TradeStation data uncovered that Lam Research , NXP Semiconductors and Teradyne also touched that line on Friday. ( Qualcomm and Microchip Technology were at their 200-day SMAs.) It’s an interesting time for the industry because catalysts like 5G upgrades and chip shortages remain in effect. Sentiment recently shifted away from cyclical stocks like industrials toward growth stocks like software. But interest rates leaped on Friday as cyclical stocks rebounded. More cyclical strength could draw money back toward chips (which often follow industrials ). If that happens, these names resting along their 100- and 200-day SMAs could begin sustained moves. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:AVGOLong
by TradeStation
1