Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Broadcom Update

By Gary S. MorrowStock MarketsJul 09, 2021 05:14PM ET
www.investing.com/analysis/broadcom-update-200590723
Broadcom Update
By Gary S. Morrow   |  Jul 09, 2021 05:14PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Broadcom Daily Chart.
Broadcom Daily Chart.

Shares of Broadcom Inc (NASDAQ:AVGO) have been trading sideways in a narrowing range since mid-February. This healthy consolidation followed a 220% gain off the March 2020 lows. As the week comes to an end, the stock is poised for an upside breakout.

Solid footing is in place. The 50-day moving average has been very supportive since the start of June. The last earnings report, a beat, was released on June 3rd.

Despite being within striking distance of new highs, AVGO is far from overbought in both the daily and weekly MACD indicators.

On the downside, a close back below $455.00 would violate last week’s low, sending a clear warning sign that more sideways action is ahead.

Note: We have no position.

You can read Gary S. Morrow's original post here.

Broadcom Update
 

Related Articles

Daniel Shvartsman
A Bear Market Shopping List By Daniel Shvartsman - Jun 25, 2022 17

Volatility has been the constant in the 2022 bear market. Wherever we go in the next 12-18 months, bargains are starting to emerge. Here are five stocks I think are positioned well...

Brett Owens
Almost 13% Yield Monthly? Come On By Brett Owens - Jun 24, 2022

Patience is the key to being a successful contrarian investor. We buy when fear is widespread. Bear markets are our friends. Let’s sit back and let the market’s...

Broadcom Update

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Jack Seeley
Jack Seeley Jul 13, 2021 5:23AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
AVGO is solid Gary..earnings you can depend on..I have traded Avgo many times but it really is a long term hold!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email