United

Strong

Million

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AVGO stock price is looking enigmatic after the Q3 23 earnings release.</a> </li> 
 <li> <span>2</span> <a>AVGO stock price is trading beyond the Key moving averages giving a bullish outlook.</a> </li> 
 <li> <span>3</span> <a>Broadcom Inc. (NASDAQ: AVGO) gave an outstanding return of 77.53% in the span of a year.&nbsp;</a> </li> 
</ul> 
<p>AVGO stock price is looking enigmatic after the Q3 23 earnings release. On Thursday, 31 August 2023 share price got an unusual spike opening at $898.01 and taking a high of $923.67 and a low of $893.77. The price closed at $922.89 with a total change of +3.43%. On the following day, the share price slowed down by -5.46% indicating the volatility in the share price. However, the scenario shows a confusing reaction of the market on earnings.</p> 
<p>Due to the uncertainty between the trader sentiments, the share price gets stuck between the price range of $813 and $923. AVGO stock price is showing signs of neutrality at the current moment.&nbsp;</p> 
<p>Currently, Broadcom’s<a href="https://www.thecoinrepublic.com/?p=153020" rel="noopener noreferrer nofollow"> stock price</a> is trading at $872.52 with an intraday loss of -5.46%. The 24-hour trading volume was 6.502 Million which was more than the average trading volume of 10 days; 3.075 Million. The market capitalization of the company is $360.076 Billion with 403.435 Million shares floating in the market.</p> 
<h2 class="wp-block-heading" id="strong-avgo-stock-prices-drop-after-q3-earning-release-strong"><strong>AVGO Stock: Prices Drop After Q3 Earning Release&nbsp;</strong></h2> 
<p>The Q3 2023 earnings AVGO reported revenue of $8.88 Billion which is up 4.9% from Q3 2022 and a net income of $3.30 Billion increase of 10% from Q3 2022. Additionally, the company reported an EPS of $8.00 and a profit margin of 37% which is boosted by the higher revenue.</p> 
<p>Revenue was in line with the analyst’s predictions. However, EPS missed analyst estimations by 5.1%. Revenue is predicted to grow by 6.2% per annum on average during the next 3 years, compared to a 15% growth forecast for the semiconductor industry in the United States.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-broadcom-inc-avgo-looks-strong-on-technical-chart-strong"><strong>Broadcom Inc. (AVGO) Looks Strong On Technical Chart</strong></h2> 
<center>  
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> 
 <script type="text/javascript">

var tradingview_embed_options = {};

tradingview_embed_options.width = '950';

tradingview_embed_options.height = '500';

tradingview_embed_options.chart = 'RWw1cQhI';

new TradingView.chart(tradingview_embed_options);

</script> 
 <p><a href="https://www.tradingview.com/chart/AVGO/RWw1cQhI-AVGO/" rel="noopener noreferrer nofollow">AVGO </a> by <a href="https://www.tradingview.com/u/</a> on <a href=" https: www.tradingview.com " rel="noopener noreferrer nofollow">TradingView.com</a></p>  
</center> 
<p>Broadcom Inc.(AVGO) is looking strong on the technical charts. Broadcom stock price is trading above the 50, 100, and 200 moving averages showing that the stock is still in the bullish phase despite consolidation and price drop.</p> 
<p>The MACD indicator shows bullish signs by entering the bullish trajectory. MACD gave a bullish crossover and the green histogram on the chart shows the mild bullishness.</p> 
<p>RSI is hovering above the median line at 51 but not in the overbought territory that is showing neutrality at the current moment.</p> 
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p>Overall technical indicators show neutrality at the current moment. <a href="https://www.thecoinrepublic.com/2023/08/26/nvidia-stock-how-nvda-earnings-could-boost-its-price-in-2023/" rel="noopener noreferrer nofollow">AVGO Stock</a> price action suggests bears and bulls are yet to gain a proper grasp on the trend. Investor and trader’s sentiments regarding the Broadcom Inc.(AVGO) stock price are indecisive at present and may remain negative unless the buyers start stepping into the price action with substantial momentum.</p> 
<h3 class="wp-block-heading" id="strong-technical-levels-strong"><strong>Technical Levels</strong></h3> 
<p><strong>Support: S1= </strong>$848.70, S2= $774.52 and S3= $662.85.</p> 
<p><strong>Resistance:</strong> S1= $886.19,&nbsp; S2= $960.37 and S3= $997.86.</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

AVGO Stock Price Forecast: Broadcom Sinks After Q3 Report

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Thecoinrepublic.com

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