Most semiconductors have lagged recently as technology stocks and the broader Nasdaq-100 struggle. That makes the price action in Broadcom especially interesting.
Notice how AVGO is holding its 100-day simple moving average (SMA). In contrast, the Philadelphia Semiconductor index is mired below its 200-day SMA. (See below.)
Second, Bollinger Band Width has shrunk back to the lower end of its range. That may indicate that prices are getting ready to expand again.
Next, AVGO’s higher lows since late January are starting to form a potentially bullish ascending triangle. Notice how the 50-day SMA potentially marks the top of the pattern.
Finally, MACD has been turning positive over the course of the last month.
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Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.
Notice how AVGO is holding its 100-day simple moving average (SMA). In contrast, the Philadelphia Semiconductor index is mired below its 200-day SMA. (See below.)
Second, Bollinger Band Width has shrunk back to the lower end of its range. That may indicate that prices are getting ready to expand again.
Next, AVGO’s higher lows since late January are starting to form a potentially bullish ascending triangle. Notice how the 50-day SMA potentially marks the top of the pattern.
Finally, MACD has been turning positive over the course of the last month.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.
