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AVGO trade ideas

Technical Analysis of Broadcom Inc. (AVGO)Broadcom Inc. (AVGO) is exhibiting a confluence of technical indicators that suggest a pivotal juncture for its stock price movement. The daily chart encapsulates a symphony of technical patterns and oscillators that signal a tenuous equilibrium between bullish and bearish forces. Price Action & Volume: The latest candlestick on AVGO's chart presents a diminutive red body with a minor upper shadow and no visible lower shadow, indicating a slight bearish inclination within a trading range. The stock closed at $1318.29, down 1.18% for the session. Despite this modest pullback, the candle’s position above the Ichimoku cloud and the 50-day moving average portrays a primary bullish bias. Volume, while marginally lower than the 30-day average, failed to provide a convincing narrative for a trend reversal, sitting at 767.67K. Ichimoku Cloud: AVGO is trading above the Ichimoku cloud, an inherently bullish signal, although proximity to the cloud's upper span warrants caution. The Tenkan-sen (red line) remains above the Kijun-sen (blue line), reinforcing the bullish stance. However, the slight contraction of the cloud ahead indicates potential volatility and consolidation. Fibonacci Retracement: The Auto Fibonacci Retracement tool highlights a consolidation zone with support around the $1309.17 level (0.236 retracement) and resistance near $1353.70 (0% retracement). This pivotal area could determine the trajectory of AVGO in the short to medium term. Oscillators: The Relative Strength Index (RSI) is neutral at 56.05, veering away from the overbought territory, suggesting that there is room for price movement in either direction without immediate overextension concerns. The Moving Average Convergence Divergence (MACD) exhibits a bearish crossover with the signal line above the MACD line, although the histogram's light bars indicate the momentum of the bearish move is waning. The On-Balance Volume (OBV) sits at 528.05M, which has been stable, pointing towards an equilibrium in buying and selling pressure. Moving Averages: The exponential moving averages (EMAs) configuration suggests a constructive backdrop for bullish scenarios, with the price holding above the key moving averages. Speculative Price Targets: Looking ahead, should the bulls recapture the momentum and the price consolidates above the 0% Fibonacci level, AVGO could target the previous swing high around $1400, aligning with the upper resistance band. Alternatively, if bearish sentiment takes hold and the stock price breaches below the 0.236 Fibonacci level, we could witness a retracement towards the $1300 psychological support or further down to the 0.382 retracement level at $1283.42. Conclusion: In summation, AVGO's technical posture suggests a tug-of-war between continuation and consolidation. The bullish trend is challenged by immediate resistance levels and oscillator signals that call for caution. Investors should monitor the Fibonacci levels for potential directional cues while keeping a vigilant eye on broader market sentiment and upcoming earnings reports that could serve as a catalyst for the next decisive move. As always, maintain risk management protocols to navigate the inherent uncertainties of the market landscape.
NASDAQ:AVGO
by AxiomEx
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 .
NASDAQ:AVGOLong
by AwesomeAvani
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. E-mini Nasdaq Futures & Options Ticker: NQ Minimum fluctuation: 0.25 index points = $5.00 Micro E-mini Nasdaq Futures & Options Ticker: MNQ Minimum fluctuation: 0.25 index points = $0.50 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
NASDAQ:AVGOShort
by konhow
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.
NASDAQ:AVGOShort
by TopgOptions
1
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.
NASDAQ:AVGOLong
by DEXWireNews
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.
NASDAQ:AVGOShort
by Siddharthbharwani
1
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.
NASDAQ:AVGOLong
by Ben_1148x2
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.
NASDAQ:AVGOShort
by AwesomeAvani
$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.
NASDAQ:AVGOLong
by JF10R
2
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
NASDAQ:AVGO
by Options360