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Advanced TA SearchArchive
- 4/5/2024 -
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Avago Technologies (AVGO) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Avago Technologies (AVGO). During the week, the AVGO gained 14.02 points, or 1.06%, and closed at 1339.43 on Friday, April 5, 2024. Weekly volume was -17% below average.
AVGO is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See AVGO long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 415.07 and reached 1438.17 on March 4, 2024. AVGO gained -1023.10 points, or -246.49%, in 72 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (999.54) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See AVGO medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 818.34 and reached 1438.17 on March 4, 2024. AVGO gained -619.83 points, or -75.74%, in 18 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 1247.52 and resistance is at 1553.62. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See AVGO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See AVGO short-term trend chart]
A short-term downtrend had started on April 4, 2024 at 1403.98 and reached 1314.19 on April 5, 2024. AVGO lost 89.79 points, or 6.40%, in 1 days. The price is now at the 28.11% retracement level.
Daily Technical Indicators: [See AVGO daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since March 22, 2024. The distance between MACD and the signal line is low and getting smaller.
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