Broadcom Stock Forecast
Red day on Thursday for Broadcom
(Updated on Apr 18, 2024)
The Broadcom stock price fell by -1.84% on the last day (Thursday, 18th Apr 2024) from $1,282.63 to $1,258.99. During the last trading day the stock fluctuated 2.96% from a day low at $1,255.46 to a day high of $1,292.65. The price has fallen in 7 of the last 10 days and is down by -4.44% for this period. 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 -13 thousand shares and in total, 2 million shares were bought and sold for approximately $3.03 billion.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $1,281.40. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
AVGO Signals & Forecast
There are few to no technical positive signals at the moment. The Broadcom stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1,318.61 and $1,321.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -8.93%. 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 for Broadcom stock
Broadcom finds support from accumulated volume at $1,257.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $37.19 between high and low, or 2.96%. For the last week the stock has had daily average volatility of 3.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AVGO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Broadcom Inc. to open at $1,269.03, and during the day (based on 14 day Average True Range), to move between $1,211.65 and $1,306.33, which gives a possible trading interval of +/-$47.34 (+/-3.76%) up or down from last closing price. If Broadcom Inc. takes out the full calculated possible swing range there will be an estimated 7.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1,257.87 (0.09%) than the resistance at $1,308.72 (3.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Broadcom Inc. stock A Buy?
The Broadcom stock holds several negative signals and despite the positive trend, we believe Broadcom will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.033 Sell Candidate Unchanged
Predicted Opening Price for Broadcom Inc. of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$1,269.03 ( 0.798%) | $1,258.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVGO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,306.22 | 3.75 % | |
R2 | 1,292.02 | 2.62 % | ||
R1 | 1,283.24 | 1.93 % | ||
Current price: | 1,258.99 | |||
Support | S1 | 1,254.83 | -0.331 % | |
S2 | 1,246.05 | -1.03 % | ||
S3 | 1,231.84 | -2.16 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,407.01 | 11.76 % | |
R2 | 1,348.00 | 7.07 % | ||
R1 | 1,308.72 | 3.95 % | ||
Current price | 1,258.99 | |||
Support | S1 | 1,257.87 | -0.0890% | |
S2 | 1,235.50 | -1.87% | ||
S3 | 1,211.20 | -3.80% |
AVGO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 07, 2024 | Mar 20, 2024 | Mar 29, 2024 | $5.25 | 0.396% |
2 | Dec 07, 2023 | Dec 20, 2023 | Dec 29, 2023 | $5.25 | 0.470% |
3 | Dec 07, 2023 | Dec 19, 2023 | Dec 29, 2023 | $5.25 | 0.470% |
4 | Aug 31, 2023 | Sep 20, 2023 | Sep 29, 2023 | $4.60 | 0.554% |
5 | May 31, 2023 | Jun 21, 2023 | Jun 30, 2023 | $4.60 | 0.530% |
FAQ
Click here for our free guide on how to buy Broadcom Stock.