Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Broadcom Inc shares valued at $2,894,048 were sold by Kawwas Charlie B on Oct 11 ’24. At $181.44 per share, Kawwas Charlie B sold 15,950 shares. The insider’s holdings dropped to 737,330 shares worth approximately $127.93 million following the completion of this transaction.
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Also, Brazeal Mark David sold 18,900 shares, netting a total of over 3,429,405 in proceeds. Following the sale of shares at $181.45 each, the insider now holds 361,660 shares.
Before that, Brazeal Mark David had sold 18,900 shares from its account. In a trade valued at $3,456,338, the Chief Legal & Corp Affairs Ofc traded Broadcom Inc shares for $182.88 each. Upon closing the transaction, the insider’s holdings decreased to 18,900 shares, worth approximately $66.03 million.
As published in a research note from Mizuho on October 14, 2024, Broadcom Inc [AVGO] has been retained to an Outperform and the price target has been revised to $220. Analysts at William Blair started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid September. As of July 16, 2024, TD Cowen has reiterated its “Buy” rating for AVGO. Earlier on July 11, 2024, Rosenblatt resumed 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 -1.87%. Over the course of the year, Broadcom Inc shares have jumped approximately 55.44%. Shares of the company reached a 52-week high of $186.42 on 10/09/24 and a 52-week low of $104.15 on 01/05/24. A 50-day SMA is recorded $167.82, while a 200-day SMA reached $145.70. Nevertheless, trading volume fell to 19.51 million shares from 12.06 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 171.06, which, if violated, would cause prices to drop to 168.61. In the upper region, resistance lies at 177.47. The next price resistance is at 181.43. RSI (Relative Strength Index) is 48.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.01, which suggests the price will decrease in the coming days. Percent R is at 93.21%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
