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Broadcom: Should I stay or should I go now? Go and Sell/Short..Technical Analysis of Broadcom Inc. (Ticker on Nasdaq: AVGO) Broadcom (AVGO), which at the time of writing on Monday 08 July 2024 is traded for around USD 1,731.00, has had a very strong rise in recent years, but now there may be a correction soon for this share. The share has increased nearly tenfold in the past three years from 2021 to 2024, and now the share is facing significant technical resistance around the current price level, and up towards the upper trend line in this long-term upward trend. There is also a recent 'gap' up which, according to technical analysis theory, should be 'covered' and this indicates that a correction may come in the share within a short time. The share is heavily overbought in the short and medium term, and thus now faces considerable technical resistance around the current price level. The overall technical picture for Broadcom (ticker on Nasdaq: AVGO) thus signals that the stock is probably facing a correction and initially and in the very short term down to around USD 1,500 (and close the gap), but preferably also down to test the support level at the 200-day moving average (down towards USD 1,220 - 1,300). There may well be a test of the support level down towards the lower trend line in the long-term rising trend also during the next 3-6 months, which in that case will mean a decline down to around USD 940.00 - 1,000.00. Yes, the overall technical picture today for Broadcom Inc. (AVG) indicates a short-term correction down to around USD 1,400 - 1,450 and in the medium term perhaps a correction down to around USD 940.00 - 1,000.00. Please don't shoot the messenger. :-)
NASDAQ:AVGOShort
by StockCharts365
1
is it going to be 150, 160 or 170 or more after the splitWhat a sell-off! With five trading days to go, this has sunk deeper than deep; from the stock split around the corner, many had predicted the 10:1 to be closer to 200 when it was approaching 2000, but now it seems there may be a bounce off the 100 EMA that is lurking around 1600, or the slight retrace was due to a correction. Still, the strong market after the 4th of July makes me think it is playing in the hands of a select few who need to position at a comfortable price. Not enough data to suggest which direction it will go from here.
NASDAQ:AVGO
by themoneyman80
AVGO support and resistanceHere's a 4hr chart of AVGO support and resistance levels. I'm posting this as a short only because AVGO is at the top of it's resistance level. However, I will not be shorting it immediately. I will be watching AVGO price action for the right timing. Broadcom AVGO announced Q2 Fiscal Year 2024 Financial Results. Raised guidance for fiscal year 2024 consolidated revenue to 51 billion and adjusted EBITDA to 61%. 10-for-1 forward stock split of Broadcom's common stockholders of record after the close of market on July 11, 2024 will receive an additional nine shares of common stock after the close of market on July 12th, with trading on a split-adjusted basis expected to commence at market open on July 15, 2024. Q2 2024 results: EPS = 10.96 beat 1.08% Revenue = 12.49 B beat 3.96%
NASDAQ:AVGOShort
by Options360
Are We Ready for All-Time Highs? A Closer Look at AVGOAVGO, once recognized as Broadcom Inc., stands as a key player in the global tech landscape, providing a variety of semiconductor and software solutions. These products find applications across multiple sectors such as telecom, data storage, and industrial automation. For H1 2023, AVGO recorded an impressive $18.76 billion in earnings, marking a 25.6% YoY increase. The EPS for the same period rose by 21.4% YoY to $10.32. Forecasts suggest a Q3 2023 EPS of $10.42, reflecting a 7.09% YoY growth. The company's revenue surge is fueled by robust demand in the data center, networking, and storage domains. Additionally, the burgeoning Internet of Things (IoT) and 5G markets are further augmenting AVGO's growth trajectory. **Important Levels to Watch**: - 923 - 976 - 1072 - 1169 **Projected Growth**: Expectations indicate a 7.5% CAGR in revenue and a 9.5% CAGR in EPS from 2023 to 2025, positioning AVGO for sustainable growth. **Key Growth Catalysts**: - **Data Center Demand**: Businesses are increasingly shifting towards cloud computing and other data-centric technologies, causing the data center market to swell. AVGO has a firm footing here with its range of switches, routers, and storage solutions. - **IoT Market**: The fast-growing IoT sphere is adopting more connected devices, and AVGO's chip and software contributions are noteworthy in this sector. - **Market Diversification**: AVGO's recent forays into new areas like automotive and industrial automation are opening new revenue and earnings avenues. In summary, AVGO has a solid earnings history and is strategically positioned for continued upward momentum. Keep an eye on the mentioned key levels as we might be setting the stage for new all-time highs. Thank you for reading and let’s continue watch this amazing company. Dr saud
NASDAQ:AVGOLong
by DrSaud1
Broadcom - Just be careful...NASDAQ:AVGO is quite overextended and retesting resistance so you have to be careful. Broadcom is rallying. This is a pretty obvious fact, considering that Broadcom is up roughly +330% over the past 1.5 years. Eventually we will see a correction, the only question is when and where. Currently, Broadcom is retesting a resistance trendline which has been pushing price lower for over a decade. Maybe this is a good area to close partials and monitor price closely. Levels to watch: $1.840, $1.140 Keep your long term vision, Philip - BasicTrading
NASDAQ:AVGOShort
by basictradingtv
3
BROADCOM Short-term pull-back in order?Broadcom Inc. (AVGO) easily hit the 1800 Target that we set on last month's analysis (May 22, see chart below) and made a new Higher High at the top of the 20-month Channel Up: The symmetrical leg at the end of 2023, got rejected right below the 3.0 Fibonacci extension back to the 2.0 Fib. Even the 1D RSI is on the same levels as December 18 2023. As a result, we are turning bearish short-term on AVGO, targeting 1670. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:AVGOShort
by TradingShot
Why $AVGO is an AI player1/ 🧵 With the rapid development of AI technology, Broadcom (AVGO) is poised to benefit significantly in its wired infrastructure business. Here’s why AVGO’s wired infrastructure is set to thrive in the AI era. 2/ 🌐 Explosive data traffic growth: AI applications require massive data processing and transmission, driving the demand for high-speed, reliable data transfer and network infrastructure. Broadcom’s Ethernet switch chips and fiber optic modules are crucial to meeting these demands. 3/ 📊 Increased data center demand: The rise of AI and cloud computing is fueling global data center expansion. Broadcom’s wired infrastructure products ensure efficient data center operations, supporting high-speed data exchange and low-latency networks. 4/ 💡 Importance of optical networks: AI applications often involve large-scale datasets and real-time processing. Optical networks offer unparalleled advantages in providing high-speed, low-latency connections. Broadcom’s fiber optic modules and related products have significant market competitiveness in this area.
NASDAQ:AVGOLong
by infinity_kk
Mind the gap! What next for Broadcom?Broadcom (AVGO) has been a major beneficiary of the AI boom, with its stock soaring 53% since the beginning of 2024 and more than doubling year-to-date. While not reaching the astronomical heights of NVIDIA (NVDA), Broadcom's performance remains remarkable. The company's Q2 revenue report was a resounding success, showing a 43% year-over-year increase, while EBITDA grew 31% year-over-year. This strong performance prompted Broadcom to announce a 10:1 stock split on July 15th, a move that will make the stock more accessible to smaller retail investors. The sustainability of this growth in the rapidly evolving AI landscape remains a key question for any AI-related company. However, Broadcom's forward P/E ratio of 35 appears relatively modest compared to its AI peers like NVIDIA (50), CrowdStrike (95), and AMD (46). This suggests that Broadcom may still have room for further valuation expansion. Following the impressive earnings report, the stock surged 12% on June 13th and continued to trade higher in after-/pre-market activity. The technical picture is also positive, with the price comfortably above its short, mid, and long-term moving averages, indicating strong momentum. The recent surge in volume, reflected in the Volume Oscillator, further underscores the heightened interest in the stock. While the Relative Strength Index (RSI) is currently in overbought territory at 79.23, this is not unusual following a major earnings announcement. Importantly, the RSI's moving average has been trending upwards since early May, suggesting that the bullish momentum behind AVGO may not be exhausted yet. Furthermore, the overall market sentiment towards AI remains positive, which could continue to support Broadcom's growth trajectory. Yet it remains important to monitor Broadcom's competitive position in the Semiconductor Solutions & Infrastructure Software market, as the landscape is constantly evolving. Risk Management: Despite the positive outlook, investors should be mindful of potential risks, such as a slowdown in AI adoption or increased competition, and employ appropriate risk management strategies.
NASDAQ:AVGOLong
by WHSelfInvest
AVGO, Split coming? On it's way to 1550?The chart for Broadcom Inc. (AVGO) on the NASDAQ shows a bullish breakout from a falling wedge pattern, indicating a potential upward price movement. After the breakout, the price has consolidated around the $1,406.64 level, suggesting a healthy pause before the next move. The RSI at 57.48 indicates neutral to slightly bullish momentum, and increased volume during the breakout adds credibility to this move. The projected path suggests the price will consolidate around $1,407.78 before breaking out to $1,419.17 and potentially reaching $1,438.35 and $1,445.40. Considering these factors, entering a long position if the price breaks above $1,419.17 with strong volume could be beneficial, with a stop loss below $1,391.91 to manage risk and targets at $1,438.35 and $1,445.40. This could easily tun to 1550 with a 10% implied move on earnings. Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research and consult a financial advisor before making any trading decisions.
NASDAQ:AVGO
by MysticMads
Broadcom's Robust Earnings, Strategic Stock Split, and AI-DrivenBroadcom Inc. has showcased strong financial performance and strategic advancements in its latest quarterly report. The company exceeded analysts’ expectations with adjusted earnings per share (EPS) of $10.96 and revenue of $12.49 billion for the second fiscal quarter. This impressive outcome led to a 10% increase in after-hours trading. In addition, Broadcom announced a 10-for-1 stock split effective July 15, aimed at increasing share accessibility for retail investors. AI technology remains a significant growth driver for Broadcom. The company reported $3.1 billion in AI-related revenue for the quarter and increased its AI revenue forecast for 2024 to $11 billion. Broadcom’s diversified AI operations and partnerships with tech giants like Google position it well for future growth. The 5G market also presents substantial opportunities for Broadcom. The company generated $5.9 billion in 5G revenue in 2023 and expects continued growth as the global market expands. Despite facing challenges such as competition from Qualcomm and geopolitical tensions, Broadcom’s strategic acquisitions and strong market presence support its positive outlook.
NASDAQ:AVGOLong
by signalmastermind
6/11/24 - $avgo - from nvda -> avgo. long into tmr PM print6/11/24 - vrockstar - $avgo. in a similar vein as the NASDAQ:AAPL call being used to "take profits" on NASDAQ:NVDA - and that's worked great today (go read that note i wrote on friday for context if interested on NASDAQ:AAPL )... i think there will be a semi diversification down the not-NVDA-but-next-in-line semis. the only obvious second is $avgo. not NASDAQ:AMD (sorry), not NASDAQ:ARM that's going to deliver in a year (lol btw). so at 30x for growing EPS at 20+% CAGR in the coming 2Y... that's 1.5x PEG which is honestly "cheap" for where we are in the nosebleed seats. I think this is the best potential beta esp if we get a positive fed-lets-see-tmr. it has the added kicker of good results that can float a higher low if we go south on macro risk. and it can put in higher highs if we have a macro tide helping and results look good. chatter about a split too. lol. lego. i'm long.
NASDAQ:AVGOLong
by VROCKSTAR
4
Broadcom (AVGO): Set for a New High or Due for a Pullback?Since the COVID-19 low in March 2020 at $155, Broadcom has seen an incredible surge, similar to Nvidia's performance. The stock has skyrocketed by an astounding 840% since that low. This massive run-up makes the analysis challenging, but we've identified the Wave (1) and Wave (2) structures of this upward movement. The internal wave structure is not clear, making it difficult to analyze further. Broadcom has had only one sideways range between $780 and $922. Otherwise, the stock has been moving parabolically upwards. A significant trendline, initially touched at Wave (1), has been broken five or six times, with the seventh touch holding as support. Given the upcoming earnings report, we believe Broadcom could rise to the $1,600 to $1,800 range, with a maximum potential target of $2,300 or higher. Realistically and statistically, we anticipate a pullback for Wave (3) between the 227.2% and 261.8% levels. However, it's also possible that Broadcom continues its upward trajectory without interruption, similar to Nvidia. Today's earnings report will be crucial in determining the next move for Broadcom. We will be watching closely to see if the stock continues its parabolic rise or if we get the pullback.
NASDAQ:AVGOLong
by freeguy_by_wmc