Time to Buy the Dip on Broadcom Stock
Broadcom(AVGO) Schaeffers Investment Research·2024-08-06 18:10The VanEck Semiconductor ETF (SMH) secured its third-straight loss yesterday, as recession fears in the U.S. weighed on the entire chip sector. Broadcom Inc (NASDAQ:AVGO) mirrored this negative price action, though the retreat put the shares near a historically bullish trendline. Specifically, Broadcom stock is trading within one standard deviation of its 126-day moving average. Per data from Schaeffer's Senior Quantitative Analyst Rocky White, four similar signals were observed in the last three years. AVG ...