AVGO breakout imminentLooks like AVGO will move higher from here. I bought the April 19th 1320/1310 bull put spread for -2.67
AVGO trade ideas
AVGO dips for a buy now $50 under ATH LONGAVGO is asking to be chased. On the daily chart, the price is now $50 below the ATH of
the top of of the month. RSI on the lower TF green line has pulled back to 72 from 85.
The longer TF black line is admittedly in overbought territory. The longterm growth
expectations of the AI stock defy ordinary technical analysis, AVGO is 3-4% below the ATH.
I see this as an opportunity to diversify in AI stocks by getting a small position in BroadCom
to supplement NVDA, MU and INTC. I am looking at TXN as it has a lower price tag and is
about 10% below ATH. ( The growth prospects need a look to see if they are there.)
I expect AVGO to compete well in the space and can see that it is making agreements with
some other companies well situated in AI .
Correction Coming for AI? AI technology has been recognized as the new future since the end of 2022. The rapid advancements in AI and its stock prices sparked debates regarding the sustainability of its current valuations.
Indeed, AI technology has a long runway ahead, but like all journeys, it will eventually encounter a bend. In today's tutorial, we are going to study its fundamental and technical reasons why we may have to prepare for a windy and bumpy ride ahead.
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AVGO Broadcom Options Ahead of EarningsAfter the Head and Shoulders chart pattern was perfectly completed:
and the bullish trend started:
Now analyzing the options chain and the chart patterns of AVGO Broadcom prior to the earnings report this week,
I would consider purchasing the 1380usd strike price Calls with
an expiration date of 2024-6-21,
for a premium of approximately $129.85.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Broadcom Revenue Beats Estimates As AI Powers DemandTech giant Broadcom ( NASDAQ:AVGO ) surpasses market expectations for first-quarter revenue fueled by heightened demand for advanced networking chips powering artificial intelligence (AI) applications. However, shares dip post-announcement amidst mixed investor sentiments.
Key Highlights:
Broadcom's robust performance in the first quarter underscores the pivotal role of AI in driving demand for cutting-edge networking solutions, particularly within cloud infrastructure. While smaller rival Marvell Technology faces challenges with weak demand for custom AI chips, Broadcom ( NASDAQ:AVGO ) stands resilient with its diversified portfolio and strategic positioning in the AI computing landscape. Despite maintaining a conservative annual revenue forecast, Broadcom's continued growth trajectory and expansion into software and tech firms affirm its status as a key player in the evolving tech ecosystem.
Market Dynamics:
The surge in demand for infrastructure upgrades, driven by the proliferation of generative AI applications, propels Broadcom's semiconductor solutions segment, albeit falling slightly short of revenue estimates. Infrastructure software revenue experiences a significant uptick, surpassing expectations and contributing to Broadcom's overall revenue growth.
Future Outlook:
Broadcom's entrenched position in AI-driven data center infrastructure positions it as a prime beneficiary of the ongoing AI revolution. Continued investments in software and tech acquisitions, coupled with sustained innovation in networking solutions, are poised to drive Broadcom's future growth and market relevance.
Conclusion:
Broadcom's ( NASDAQ:AVGO ) resilience in navigating market challenges while capitalizing on emerging opportunities reaffirms its status as a leading player in the tech industry. As AI continues to reshape the technological landscape, Broadcom's ( NASDAQ:AVGO ) expertise in providing essential networking solutions places it at the forefront of innovation and growth.
AVGO's climb is now coming to an endAVGO has done extremely well due to earnings reports and releases and AI implementation in the past couple of months but now that stock surge is coming to a trend reversal. FVG analysis shows there are previous gaps that haven't been covered yet. This is further proven by the gravestone doji that we saw at yesterday's close. Today, the stock saw -4% and that red candle confirmed that the uptrend broke and the stock is now coming to a reversal.
Yes, of course, the market will retest itself and go up in the next couple of days but with a fair opportunity, it is time to short AVGO. forecasted price to exit: $1080-1120.
AVGO - possible continuation scenarioNASDAQ:AVGO is a top position of mine. I was concerned that a close below 1200 would signal a near term reversal, as this would follow the pattern of the sentiment cycle. Wicking down to that level and continuing higher in advance of earnings is a strong sign for continuation.
Continuing further makes this seem more like wave 3 of 5, which could peak in one of the confluence zones overhead (1430-1475, or 1540-1595). If so, a wave 4 could bring us back to 1270-1400 prior to a push higher.
AVGO Chipmaker in an ascending channel SHORTOn a 30-minute chart, like several other computer chip manufactures has approached or
reached a near-term top. Overall Broadcom has gained 19% YTD. Earnings are in about two
weeks. I see this as a short trade to follow AVGO from the top of the channel down to about
1225 in time to catch earnings at the bottom of the channel to end the swing trade and instead
go long from there. I intend to close the trade two days before earnings and flip sides
hunting the beat on the earnings.
$AVGO Prime for ATH AgainIf we can see the bullish reversal happen on the daily timeframe with the SQZMOM indicator early in the next week, a quick run to $1200 followed by $1250 is definitely possible.
I Would like to see at least a mild squeeze compression show up on SQZPRO Tuesday Jan 16th or Wednesday to confirm the move on the upside.
As it is Broadcom, the move could be sudden. A quick move back into the most recent range (I would consider $1120 a safe entry) would a great confirmation.
2024 LEAPS expire2024 LEAPS expire on Friday 1/19/24.
AAPL
Put Volume Total 255,134
Call Volume Total 289,493
Put/Call Volume Ratio 0.88
Put Open Interest Total 1,014,049
Call Open Interest Total 1,263,940
Put/Call Open Interest Ratio 0.80
MSFT
Put Volume Total 70,166
Call Volume Total 203,048
Put/Call Volume Ratio 0.35
Put Open Interest Total 536,269
Call Open Interest Total 525,894
Put/Call Open Interest Ratio 1.02
GOOGL
Put Volume Total 26,171
Call Volume Total 61,932
Put/Call Volume Ratio 0.42
Put Open Interest Total 563,800
Call Open Interest Total 723,049
Put/Call Open Interest Ratio 0.78
AMZN
Put Volume Total 69,079
Call Volume Total 108,327
Put/Call Volume Ratio 0.64
Put Open Interest Total 1,159,696
Call Open Interest Total 1,393,458
Put/Call Open Interest Ratio 0.83
NVDA
Put Volume Total 342,991
Call Volume Total 482,709
Put/Call Volume Ratio 0.71
Put Open Interest Total 740,175
Call Open Interest Total 694,903
Put/Call Open Interest Ratio 1.07
AVGO
Put Volume Total 7,741
Call Volume Total 17,937
Put/Call Volume Ratio 0.43
Put Open Interest Total 66,013
Call Open Interest Total 36,378
Put/Call Open Interest Ratio 1.81
META
Put Volume Total 54,384
Call Volume Total 87,679
Put/Call Volume Ratio 0.62
Put Open Interest Total 543,083
Call Open Interest Total 700,838
Put/Call Open Interest Ratio 0.77
TSLA
Put Volume Total 700,313
Call Volume Total 661,988
Put/Call Volume Ratio 1.06
Put Open Interest Total 1,148,280
Call Open Interest Total 1,909,456
Put/Call Open Interest Ratio 0.60
AVGO peak scanning strategyStrategy to scan AVGO peak first, take profits and collect low prices.
After the financial report of avgo stock, the stock value increased to the highest ever from 911 to 1099, I predict that AVGO will have a scenario of sweeping the top to create a target price of 200, from 911 to 1111, then down back to the starting place
AVGO: Eyeing an aggressive bullish breakout. Broadcom Inc is overbought on the 1D technical outlook (RSI = 75.003, MACD = 23.960, ADX = 31.411) but on the long term it is only testing the middle of the 1 year Channel Up pattern. This recent rally was initiated after the 1D MA50 held on December 6th. If the middle of the Channel Up breaks, we will go long and target the top (TP = 1,300) as it could be a bullish breakout as aggressive as May 26th. If it doesn't break, we will wait for another pullback to the 1D MA50 and then buy towards the middle again (TP = 1,100).
See how our prior idea has worked:
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Broadcom Ltd (NASDAQ: $AVGO) Growth MomentumPrice Momentum
AVGO is trading near the top of its 52-week range and above its 200-day simple moving average.
The 50-day Moving Average is above the 200-day moving average meaning NASDAQ:AVGO may continue its Bullish Trend.
NASDAQ:AVGO 's 50-day moving Average crosses the 100-day Moving Average indicating a partial "Golden Cross".
Investors have been pushing the share price higher, NASDAQ:AVGO still appears to have upward momentum. This is a positive sign for $AVGO.
