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AVGO trade ideas

AVGO is set up for a higher high after consolidating for 6 month AVGO touched its recent lows around the $160 level on 27 Nov 2024. Since then, the stock has trended up with a slight increase in volume. With 6 Dec 2024 strong bounce with volume, the stock closed at $179.53. AVGO is close to its recent all-time high level around $185. The MACD is trending upwards with the MACD line crossing upward to the signal line. RSI is also at 63.18, higher than when the stock price tested the previous high on 7 Nov 2024. Both MACD and RSI indicate a stronger momentum for the potential breakout. Along with good sentiment on the semiconductor industry and AVGO earnings coming out next week. I believe the current level might be a good entrance to AVGO stock. The more cautious trade should wait till the breakout is confirmed by the price going over the $185 level and retest around the $185 level to enter for favorable odds.
NASDAQ:AVGOLong
by zwu
Broadcom’s Chart Has Some Issues Ahead of Next Week’s EarningsTech giant Broadcom NASDAQ:AVGO -- which will post fiscal Q4 earnings next Thursday (Dec. 12) -- has reacted in a volatile fashion almost immediately over the past year or so whenever the company releases results. But then it has often reversed that initial move a few days later. What does AVGO’s technical and fundamental analysis say ahead of the latest report? Let’s check it out: Broadcom’s Fundamental Analysis As I write this, Wall Street’s consensus estimate for AVGO’s results is calling for $1.39 of adjusted earnings per share, $0.70 in GAAP EPS and $14.1 billion of revenues. That would represent a 25% gain from the $1.11 in adjusted earnings per share that Broadcom posted in the same quarter last year, along with a 51% year-over-year rise in revenues. If those estimates hold true, Broadcom’s latest results would represent the company’s fourth consecutive quarter of large year-on-year sales growth. In fact, about two thirds of analysts tracking Broadcom have increased their estimates for the firms' upcoming results since the quarter began. But looking ahead, the Street is expecting such gains to diminish rapidly -- perhaps as soon as the company’s current quarter. For the next three fiscal quarters, analysts’ consensus estimates for year-over-year revenue growth are running at roughly 22%, 17% and 17%, respectively. Yet so far, Broadcom has been a cash-flow beast. Over the trailing 12 months ended Aug. 4, AVGO generated $19.2 billion of operating cash flow, out of which came just $531 million of capital expenditures (or “capex”). That left $18.7 billion of 12-month free cash flow. Out of that number, the firm repurchased $11.8 billion of common stock. Broadcom also dished out $9.2 billion of cash dividends to shareholders. It’s interesting that the firm’s capital return to shareholders (some $21 billion of dividends and stock repurchases) actually exceeded Broadcom’s huge free cash flow. Looking at the stock’s balance sheet, Broadcom ran a $10 billion cash position and $1.9 billion of inventories as of Aug. 4, with total current assets at $19.9 billion. Meanwhile, current liabilities added up to $19.2 billion -- including $3.1 billion of shorter-term debt and $9.8 billion of unearned revenue. True, this technically put the firm's current ratio at 1.04, which would barely pass muster for many investors. However, once we adjust AVGO’s balance sheet for those $9.8 billion deferred revenues (which many investors don’t consider “true” liabilities), the current ratio rises to a much more comfortable 2.11. Still, the company’s balance sheet has other potential issues if we dig a little deeper. For example, Broadcom’s total assets amount to $168 billion, but that includes $140.9 billion of goodwill and other intangibles -- 84% of the total. That's very high by Wall Street standards. Separately, total liabilities less equity came to $102.3 billion. That includes $66.8 billion of long-term debt, which looks a bit heavy relative to the company’s cash position. All in, the fundamentals tell me investors might approach this stock with a certain level of caution. Broadcom’s Technical Analysis Here’s AVGO’s chart since early 2024, which also says “buyer beware” in some ways: Readers will see that the stock has formed a large “double-top reversal” pattern, as denoted by the two pyramids shaded in red. This is traditionally a pattern of bearish reversal. AVGO’s double-top has a $128 pivot point (the nadir between the two pyramids’ peaks). Since forming this pattern, Broadcom has moved sideways of late -- but neither created a new top nor tested the double top’s $128 low. So, the pattern looks like it’s still valid. Again, that could be a bearish sign. Meanwhile, readers will also see that in November, Broadcom’s 21-day Exponential Moving Average (or “EMA,” denoted with a green line above) crossed below the stock’s 50-day Simple Moving Average (or “SMA,” marked with a blue line). This is a signal that veteran swing traders sometimes to get out of or avoid long-side trades. (Other swing traders use shorter moving averages.) Still, note that Broadcom’s Relative Strength Index (the gray line at the chart’s top) is almost perfectly neutral. Meanwhile, the stock’s daily Moving Average Convergence Divergence indicator (or “MACD,” denoted by black and gold lines and blue bars at the chart’s bottom) has improved, but isn’t really positive just yet. Within that MACD, the histogram of Broadcom’s 9-day EMA (marked blue bars) has crossed above zero. That’s historically a positive sign. The stock’s 12-day EMA (the black line) has similarly crossed above the 26-day EMA (the gold line). That’s also typically positive. However, both the 12- and 26-day EMAs are still below zero – a potentially negative sign. In fact, some traders consider that reason enough alone to avoid longer-term trades in a stock with such a reading. All in all, I personally think there are enough concerns to show caution with Broadcom going into next week’s earnings report. Personally, I have no position in the stock. (Stephen “Sarge” Guilfoyle is Moomoo Technologies Inc.’s markets commentator.) This article discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. This content is also not a research report and is not intended to serve as the basis for any investment decision. The information contained in this article does not purport to be a complete description of the securities, markets, or developments referred to in this material. Moomoo and its affiliates make no representation or warranty as to the article's adequacy, completeness, accuracy or timeliness for any particular purpose of the above content. Furthermore, there is no guarantee that any statements, estimates, price targets, opinions or forecasts provided herein will prove to be correct. Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC. TradingView is an independent third party not affiliated with Moomoo Financial Inc., Moomoo Technologies Inc., or its affiliates. Moomoo Financial Inc. and its affiliates do not endorse, represent or warrant the completeness and accuracy of the data and information available on the TradingView platform and are not responsible for any services provided by the third-party platform.
NASDAQ:AVGO
by moomoo
1
Long AVGO at 170.38 - shooting for 1% a day on a quick flipAVGO is holding just above a decent support around 167.5 as part of an ascending trangle-ish pattern (if you squint really hard). Longer term, the trend is solidly positive. In the end, though, for me, it's about it being short term oversold. In the last 12 months, when my algo signals oversold, here's what happened: 25 wins - 2 "losses" (the last 2 days) Avg gain = +1.83% Avg holding period = 2.09 days That's an annualized per lot traded/per day held return of just under 221%. So you see why I'm interested. I'll add new lots at the close any time it's oversold until the entire position is closed. I will close any lot as soon as it becomes end of day profitable. OK let's AVGOOOOOOOOOOOO Ignore the original lot line at 170.45. That should be at 170.38 and I'm not redoing the whole post for that😤
NASDAQ:AVGOLong
by redwingcoach
BROADCOM Best buy opportunity since September for $223.Broadcom Inc. (AVGO) hit its 1D MA100 (green trend-line) on Friday for the first time in more than 2 months (since September 11). This is the best buy opportunity since then as the dominant pattern remains the Bullish Megaphone. On top of that, it appears that we are currently within a Bull Flag, similar to the one that was completed when the 1D MA100 was hit and held last time on April 19 2024. The 1D RSI sequences between the two fractals are also very similar. That Flag initiated a price rebound above the 2.5 Fibonacci extension. As a result, we turn bullish on AVGO again, targeting $223.00. ------------------------------------------------------------------------------- ** 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:AVGOLong
by TradingShot
3
$AVGO PRE-EARNINGS DIP BUY Broadcom ( NASDAQ:AVGO ) has an upcoming earnings report scheduled for Dec.5 This also happens to be a stock that investment power house Nancy Pelosi is currently holding a position in and with the rise of similar stock $NVDIA earlier today, I suspect NASDAQ:AVGO to have enough catalyst fuel to power this Daily time frame dip buy opportunity off of the 22EMA. I plan on entering this position tomorrow IF NASDAQ:AVGO goes green on the daily time frame AFTER a bearish start to the morning to take out any left over liquidity (previous-day lows, post-market lows, pre-market lows) and I plan to hold this buy position anywhere between 1-4 weeks depending on how the daily time frame CLOSES along the way... No Price targets.
NASDAQ:AVGOLong
by CJITM
Broadcom: Bullish Comeback!The downtrend that began in early October was recently broken as AVGO surged by 10% at the start of the month. We still see the stock in an overarching corrective movement, with the last cycle top marked in June 2024 by the peak of the blue wave I. Primarily, we anticipate a three-wave structure to unfold in the ongoing blue wave II. The beige wave B should have sufficient upward momentum to push up to the resistance level at $211.94. Afterward, the final sell-off of wave C should unfold. Our 30% likely alternative scenario, however, suggests a different wave count and a premature downward move below $126.04. In either case, we expect a new low of the blue wave II.
NASDAQ:AVGO
by MarketIntel
AVGO LONGAVGO (Broadcom Inc.) continues to impress with strong performance, up 8.35% in the past week and 24.06% over the last quarter. The stock is currently breaking out, with $193 as a key short-term target. With a P/E of 160.11, AVGO is highly valued (like everything else), but its 32.04% YoY sales growth and 27.84% projected EPS growth next year highlight its strong growth potential. The stock is supported by solid profit margins and operating performance, but the high valuation and significant EPS volatility could pose risks if growth slows. While $193 is my first target, $200+ remains in play if Broadcom continues to execute, though caution is warranted given its lofty price.
NASDAQ:AVGOLong
by SPYDERMARKET
AVGO Long Trade 11/10/24Asset Class: Stocks Income Type: Daily Symbol: AVGO Trade Type: Long Trends: Short Term: Up Long Term: Up Set-Up Parameters: Entry: 179.24 Stop: 177.21 TP1 183.29 (2:1) Trade idea: 15Min DBR at breakout, with a FVG on top !!Be aware of pending Economic Reports. If price is within 20 pips of proximal value at time of major impact report, then Confirmation entry. Trade management: **When price hits 1:1 or T1, consider moving stop to entry in case of pullback.
NASDAQ:AVGOLong
by MESHANL
1
AVGO: This pullback is a buy opportunity.Broadcom is bullish on its 1D technical outlook (RSI = 59.908, MACD = 4.100, ADX = 23.045) as it remains near its All Time High. However it is consolidating as the 1D MA50 is holding. As long as the 1D MA200 supports on the bottom of the long term Channel Up, the long term action is bullish. Aim for at least a +122% rise (TP = 285). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:AVGOLong
by InvestingScope