Broadcom Technical Analysis (NASDAQ:AVGO)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. A AVGO stock chart pattern can give those who understand technical analysis an indication of which way AVGO stock is headed, but cannot predict with 100% certainty as to what can happen to the Broadcom stock price.
View technical indicators like moving averages (SMA and EMA), and bollinger bands for Broadcom. Technical analysis is used by finance professionals and is popular among traders, especially day traders. Undertaking Broadcom stock analysis using these technical indicators helps identify trading opportunities.
Broadcom Moving Average:
AVGO stock price movements can be forecasted by using triggers based on moving averages, which are also some of the simplest technical indicators. The way the averages are calculated in each of the 2 popular cases, that is SMA and EMA varies, however the interpretation of Broadcom chart patterns after the calculations remain the same. The 100 day moving average of 237.05 is below the last closing price of 249.37. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $250.29 is above the price of $249.37.
Broadcom Bollinger Bands:
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the AVGO stock. Currently the stock price of $249.37 is in the lower range of Broadcom bollinger bands.
Broadcom Moving Average Convergence Divergence or MACD:
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Broadcom MACD line is above the signal line.
Broadcom Relative Strength Index:
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. The relative strength index of AVGO stock is 52.82. .