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Semiconductors Industry Stocks Technical Analysis - AVGOArchive
- 4/26/2024 -
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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 139.36 points, or 11.57%, and closed at 1344.07 on Friday, April 26, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was -15% below average.
 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 (1023.21) 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 1307.60 and resistance is at 1676.58. 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 below its signal line since April 12, 2024. 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 April 19, 2024 at 1197.56 and reached 1355.83 on April 26, 2024. AVGO gained -158.27 points, or -13.22%, in 7 days. The price is now at the 7.43% retracement level.
Daily Technical Indicators: [See AVGO daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 Lane's Stochastic help.
The daily MACD line is below its signal line since April 12, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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