BROADCOM INC. - Daily - Technical analysis published on 05/24/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
6%
78%
17%
My opinion
Bearish under 562.74 USD
My targets
499.07 USD (-4.39%)
469.74 USD (-10.01%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BROADCOM INC. as long as the price remains well below 562.74 USD. The sellers' bearish objective is set at 499.07 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 469.74 USD. In case of crossing, the next objective would be the support located at 407.77 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.7
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BROADCOM INC. price is 521.97 USD. The price registered a decrease of -0.83% on the session and was between 516.19 USD and 528.49 USD. This implies that the price is at +1.12% from its lowest and at -1.23% from its highest.516.19
528.49
521.97
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by BROADCOM INC.:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of BROADCOM INC. in Daily shows a overall strongly bearish trend. 85.71% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a strong bearish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish engulfing lines
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 407.77 | 469.74 | 499.07 | 521.97 | 529.65 | 562.74 | 598.58 |
| Change (%) | -21.88% | -10.01% | -4.39% | - | +1.47% | +7.81% | +14.68% |
| Change | -114.20 | -52.23 | -22.90 | - | +7.68 | +40.77 | +76.61 |
| Level | Minor | Intermediate | Minor | - | Major | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 493.91 | 504.09 | 515.22 | 525.40 | 536.53 | 546.71 | 557.84 |
| Camarilla | 520.50 | 522.45 | 524.41 | 526.36 | 528.31 | 530.27 | 532.22 |
| Woodie | 494.40 | 504.33 | 515.71 | 525.64 | 537.02 | 546.95 | 558.33 |
| Fibonacci | 504.09 | 512.23 | 517.26 | 525.40 | 533.54 | 538.57 | 546.71 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 404.19 | 458.32 | 500.75 | 554.88 | 597.31 | 651.44 | 693.87 |
| Camarilla | 516.64 | 525.49 | 534.34 | 543.19 | 552.04 | 560.89 | 569.74 |
| Woodie | 398.35 | 455.40 | 494.91 | 551.96 | 591.47 | 648.52 | 688.03 |
| Fibonacci | 458.32 | 495.20 | 517.99 | 554.88 | 591.76 | 614.55 | 651.44 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 443.35 | 498.38 | 526.38 | 581.41 | 609.41 | 664.44 | 692.44 |
| Camarilla | 531.56 | 539.17 | 546.78 | 554.39 | 562.00 | 569.61 | 577.22 |
| Woodie | 429.85 | 491.62 | 512.88 | 574.65 | 595.91 | 657.68 | 678.94 |
| Fibonacci | 498.38 | 530.09 | 549.69 | 581.41 | 613.12 | 632.72 | 664.44 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 36.52 | |
| MACD (12,26,9): | -12.8300 | |
| Directional Movement: | -13.56 | |
| AROON (14): | -21.42 | |
| DEMA (21): | 551.54 | |
| Parabolic SAR (0,02-0,02-0,2): | 600.14 | |
| Elder Ray (13): | -36.58 | |
| Super Trend (3,10): | 595.91 | |
| Zig ZAG (10): | 521.25 | |
| VORTEX (21): | 0.8000 | |
| Stochastique (14,3,5): | 18.61 | |
| TEMA (21): | 543.23 | |
| Williams %R (14): | -89.83 | |
| Chande Momentum Oscillator (20): | -57.84 | |
| Repulse (5,40,3): | -1.1500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1800 | |
| Courbe Coppock: | 8.38 |
| MA7: | 557.07 | |
| MA20: | 569.24 | |
| MA50: | 589.87 | |
| MA100: | 587.72 | |
| MAexp7: | 547.57 | |
| MAexp20: | 566.27 | |
| MAexp50: | 578.94 | |
| MAexp100: | 578.24 | |
| Price / MA7: | -6.30% | |
| Price / MA20: | -8.30% | |
| Price / MA50: | -11.51% | |
| Price / MA100: | -11.19% | |
| Price / MAexp7: | -4.68% | |
| Price / MAexp20: | -7.82% | |
| Price / MAexp50: | -9.84% | |
| Price / MAexp100: | -9.73% |
Quotes :
-
15 min delayed data
-
NASDAQ Stocks
News
The last news published on BROADCOM INC. at the time of the generation of this analysis was as follows:
- Broadcom Inc. Announces Pricing and Upsizing of Mandatory Convertible Preferred Stock Offering
- Broadcom Inc. Announces Offering of Mandatory Convertible Preferred Stock
-
Jim Cramer Breaks Down Broadcom, U.S.-China Trade War, Markets
- Broadcom Inc. Announces Third Quarter Fiscal Year 2019 Financial Results and Quarterly Dividend
- Broadcom Unveils Portfolio for RDK Video Accelerator Program
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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