Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Broadcom Inc shares valued at $12,798,037 were sold by TAN HOCK E on Jul 11 ’24. At $1705.95 per share, TAN HOCK E sold 7,502 shares. The insider’s holdings dropped to 138,191 shares worth approximately $21.69 million following the completion of this transaction.
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Also, PAGE JUSTINE sold 254 shares, netting a total of over 444,566 in proceeds. Following the sale of shares at $1750.26 each, the insider now holds 2,748 shares.
Before that, PAGE JUSTINE had sold 312 shares from its account. In a trade valued at $561,600, the Director traded Broadcom Inc shares for $1800.00 each. Upon closing the transaction, the insider’s holdings decreased to 312 shares, worth approximately $0.47 million.
As published in a research note from TD Cowen on July 16, 2024, Broadcom Inc [AVGO] has been retained to a Buy and the price target has been revised to $210. Analysts at Rosenblatt resumed the stock at ‘”a Buy”‘ outlook in a report released in mid July. As of June 11, 2024, Citigroup has reiterated its “Buy” rating for AVGO. Earlier on June 03, 2024, Melius initiated its rating. Their recommendation was “a Buy” for AVGO stock.
Analyzing AVGO Stock Performance
During the last five days, there has been a drop of approximately -3.33%. Over the course of the year, Broadcom Inc shares have jumped approximately 40.59%. Shares of the company reached a 52-week high of $185.16 on 06/18/24 and a 52-week low of $104.15 on 01/05/24. A 50-day SMA is recorded $159.66, while a 200-day SMA reached $132.99. Nevertheless, trading volume fell to 23.45 million shares from 18.06 million shares the previous day.
Support And Resistance Levels for Broadcom Inc (AVGO)
According to the 24-hour chart, there is a support level at 153.83, which, if violated, would cause prices to drop to 150.72. In the upper region, resistance lies at 161.62. The next price resistance is at 166.30. RSI (Relative Strength Index) is 48.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.49, which suggests the price will decrease in the coming days. Percent R is at 59.46%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
