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Downtrend Broken Resist.Archive
- 5/17/2024 -
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Avago Technologies (AVGO) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a second consecutive positive week for the Avago Technologies (AVGO). During the week, the AVGO gained 62.49 points, or 4.69%, and closed at 1395.29 on Friday, May 17, 2024. Weekly volume was -19% 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 1445.40 on May 16, 2024. AVGO gained -1030.33 points, or -248.23%, in 83 weeks. Price is near the trend high.
Medium-term trend: [See AVGO medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 818.34 and reached 1445.40 on May 16, 2024. AVGO gained -627.06 points, or -76.63%, in 29 weeks. The price is now at the 7.99% retracement level.
 Weekly Technical Indicators: [See AVGO weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Relative Strength Index has bearish divergence. Use the following links to access the Relative Strength Index help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index 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 links to access Relative Strength Index and Williams' Percentage Range help.
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 May 2, 2024 at 1223.31 and reached 1445.40 on May 16, 2024. AVGO gained -222.09 points, or -18.15%, in 14 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See AVGO daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since May 3, 2024. This is an indication that the short-term trend is up.
During the last week, the 20 Day Moving Average 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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