Broadcom stock price ended at $1,495.51 on Wednesday, after gaining 2.36%., 1 month ago


The Broadcom stock price gained 2.36% on the last trading day (Wednesday, 12th Jun 2024), rising from $1,461.03 to $1,495.51. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.99% from a day low at $1,476.40 to a day high of $1,505.79. The price has risen in 6 of the last 10 days and is up by 7.54% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $6.69 billion.

On Jun 11, 2024, it was reported that Citigroup gave AVGO a "Outperform" grade with a "hold" action.

The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $1,474.98, a level that may pose a second chance to hit a runner. According to fan-theory $1,669.67 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.


The Broadcom stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1,421.26 and $1,360.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 13.13%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $1,348.00 and $1,328.55.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Broadcom finds support just below today's level at $1,348.00. If this is broken, then the next support from accumulated volume will be at $1,328.55 and $1,235.50.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $29.39 between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 2.55%.

Broadcom holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Check full Broadcom forecast and analysis here.