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Semiconductors Industry Technical AnalysisArchive
- 5/26/2023 -
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Avago Technologies (AVGO) |
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| Summary:
| | Weekly : | | Daily :
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| | It was a fourth consecutive positive week for the Avago Technologies (AVGO). During the week, the AVGO gained 130.48 points, or 19.12%, and closed at 812.73 on Friday, May 26, 2023. Weekly volume was 87% above average.
AVGO is a member of Information Technology Sector. Information Technology is the 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 downtrend had started on December 28, 2021 at 677.76 and reached 415.07 on October 13, 2022. AVGO lost 262.69 points, or 38.76%, in 41 weeks. The price is now at the 151.38% retracement level.
 Medium-term trend: [See AVGO medium-term trend chart]
A medium-term uptrend had started on May 4, 2023 at 601.29 and reached 814.97 on May 26, 2023. AVGO gained -213.68 points, or -35.54%, in 3 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (693.06) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend.
 Weekly Technical Indicators: [See AVGO weekly technical indicators chart]
Weekly Relative Strength Index is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Relative Strength Index help.
The weekly MACD line is above its signal line since May 12, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See AVGO short-term trend chart]
A short-term uptrend had started on May 24, 2023 at 676.06 and reached 814.97 on May 26, 2023. AVGO gained -138.91 points, or -20.55%, in 2 days. Price is near the trend high.
 Daily Technical Indicators: [See AVGO daily technical indicators chart]
Daily Lane's Stochastic is overbought while Relative Strength Index is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Relative Strength Index. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since May 10, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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