(AVGO) Investment Analysis

September 17, 2024, 09:42 am ET, BY David D.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for AVGO

• Buy AVGO slightly over 150.27 target 168.41 stop loss @ 149.84 Details

The technical summary data tells us to buy AVGO near 150.27 with an upside target of 168.41. This data also tells us to set a stop loss @ 149.84 to protect against excessive loss in case the stock begins to move against the trade. 150.27 is the first level of support below 163.829 , and by rule, any test of support is a buy signal. In this case, support 150.27 would be being tested, so a buy signal would exist.

• Short AVGO slightly under 168.41, target 150.27, stop loss @ 168.9 Details

The technical summary data is suggesting a short of AVGO as it gets near 168.41 with a downside target of 150.27. We should have a stop loss in place at 168.9though. 168.41 is the first level of resistance above 163.829, and by rule, any test of resistance is a short signal. In this case, if resistance 168.41 is being tested, so a short signal would exist.

Swing Trading Plans for AVGO

• Buy AVGO slightly over 166.74, target 168.41, Stop Loss @ 166.26 Details

If 166.74 begins to break higher, the technical summary data tells us to buy AVGO just slightly over 166.74, with an upside target of 168.41. The data also tells us to set a stop loss @ 166.26 in case the stock turns against the trade. 166.74 is the first level of resistance above 163.829, and by rule, any break above resistance is a buy signal. In this case, 166.74, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AVGO slightly near 166.74, target 150.27, Stop Loss @ 167.22. Details

The technical summary data is suggesting a short of AVGO if it tests 166.74 with a downside target of 150.27. We should have a stop loss in place at 167.22 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 166.74, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for AVGO

• Buy AVGO slightly over 165.76, target 166.74, Stop Loss @ 165.37 Details

If 165.76 begins to break higher, the technical summary data tells us to buy AVGO just slightly over 165.76, with an upside target of 166.74. The data also tells us to set a stop loss @ 165.37 in case the stock turns against the trade. 165.76 is the first level of resistance above 163.829, and by rule, any break above resistance is a buy signal. In this case, 165.76, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AVGO slightly near 165.76, target 150.27, Stop Loss @ 166.15. Details

The technical summary data is suggesting a short of AVGO if it tests 165.76 with a downside target of 150.27. We should have a stop loss in place at 166.15 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 165.76, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Broadcom Inc. (AVGO) available here: AVGO.

AVGO Ratings for September 17:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	150.27
P2	165.76	147	168.41
P3	174.83	166.74	186.68

AI Generated Signals for AVGO

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With an objective approach to Broadcom Inc. (NASDAQ: AVGO), Stock Traders Daily attempts to go with the flow of the market by utilizing a combination of market analysis and stock analysis.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for AVGO change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if AVGO is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for AVGO too.  All of these are offered below the Summary Table.