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Broadcom Inc. Stock Forecast NASDAQ:AVGO

$588.56 (-0.31%)

Volume: 2M

Closed: Dec 08, 2021

Hollow Logo Score: 2.965

Broadcom Inc. Stock Forecast

$588.56 (-0.31%)

Volume: 2M

Closed: Dec 08, 2021

Score Hollow Logo 2.965
Which way will AVGO go? Request
Stop-loss: $565.26 (-3.96%)
Key Stats
P/E Ratio 42.10
Beta 1.5
Trailing Dividend Rate 3.02% ($17.84)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 58 and the stock is currently not being overbought or oversold

Broadcom Inc. stock downgraded from Strong Buy Candidate to Buy Candidate after Wednesday trading session.
(Updated on Dec 08, 2021)

Buy or Hold candidate since 2021-10-05 Gain 21.25%

The Broadcom Inc. stock price fell by -0.31% on the last day (Wednesday, 8th Dec 2021) from $590.40 to $588.56. During the day the stock fluctuated 1.46% from a day low at $582.43 to a day high of $590.94. The price has risen in 6 of the last 10 days and is up by 6.02% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 2 million shares were bought and sold for approximately $1.06 billion.

The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $591.90 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 19.06% during the next 3 months and, with a 90% probability hold a price between $647.29 and $704.72 at the end of this 3-month period.

Signals & Forecast

The Broadcom Inc. 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 $566.14 and $550.49. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, December 07, 2021, and so far it has fallen -0.31%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

On the downside, the stock finds support just below today's level from accumulated volume at $553.28 and $506.00. There is 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 Inc. finds support just below today's level at $553.28. If this is broken, then the next support from accumulated volume will be at $506.00 and $494.82.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $8.51 between high and low, or 1.46%. For the last week the stock has had a daily average volatility of 2.71%.

Our recommended stop-loss: $565.26 (-3.96%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 days ago.)

Is Broadcom Inc. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Broadcom Inc. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 2.965

Predicted Opening Price for Broadcom Inc. of Thursday, December 9, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 9, 2021 Current price
$587.31 $588.56 (Overvalued)
Buy Candidate Downgraded

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Analyst Ratings

On Dec 07, 2021 "Credit Suisse Group" gave "$580.00 - $620.00" rating for AVGO. The price target was set to $589.50+4.3%.

Volatility and Risk
Daily Average Volatility: 2.71 %
Overall Risk: Very High High Medium Low Very Low
2.71 %
Daily Average Volatility
Overall Risk

Very High
Very Low

Support & Resistance

Resistance: $590.40
Price: $588.56
Support: $553.28

AVGO Insider Trading Show all Trades



Last 100 transactions
Buy: 403 511 | Sell: 300 842 (Shares)
Date Action Amount Person Type
Oct 07, 2021 Sell 37 000 Tan Hock E Common Stock, $0.001 par value
Sep 29, 2021 Buy 152 Fernandez Raul J Common Stock, $0.001 par value
Sep 27, 2021 Sell 3 150 Brazeal Mark David Common Stock, $0.001 par value
Sep 23, 2021 Sell 1 300 Hartenstein Eddy W Common Stock, $0.001 par value
Sep 23, 2021 Sell 3 217 Hartenstein Eddy W Common Stock, $0.001 par value
Show all Insider Trades


Last 100 transactions
Buy: 403 511 | Sell: 300 842 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 595.82 1.23 %
592.57 0.68 %
590.56 0.34 %
Current price: 588.56
Support 584.06 -0.76 %
582.05 -1.11 %
578.80 -1.66 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0 .
0 .
590.40 0.31 %
Current price 588.56
Support 553.28 -5.99%
506.00 -14.03%
494.82 -15.93%

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About Broadcom Inc.

Broadcom Broadcom Limited designs, develops, and supplies a range of analog and digital semiconductor connectivity solutions. Its product portfolio comprises broadband access and modems, enterprise and network processors, wireless infrastructure, wireless connectivity, Ethernet communication and switching, and set-top box and media processors. The company’s products are used in various applications, including data center networking, home connectivity, br... Read more

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