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Good morning Traders,
With the Jan. 06 close, Lift-Off confirms a LONG trading signal on the U.S. stock Broadcom Inc (Ticker: AVGO) listed on the NASDAQ and part of the S&P500 Index (SPX) and the NASDAQ (NDX).
The stock closed at US$588.43 per share, marking +6.02%.
The prospects of China's reopening, confirmed yesterday, could have a positive impact on semiconductor companies. The end of restrictions imposed by the country's "zero covid" policy is expected to facilitate semiconductor companies' import and export activities. China is a major semiconductor manufacturer, and its domestic market is of great importance to many semiconductor companies. In addition, China is an important trading partner for many countries, so the reopening of the borders could boost trade and increase demand for semiconductors.
Below chart of Broadcom Inc - AVGO - with the signal detected by Lift-Off
The company is active in the "Electronic Technology" industry specifically in the "Semiconductor Industry"
Broadcom Inc is a U.S. information technology company that designs and manufactures semiconductor components and software for the computer, telecommunication, defense, aerospace and transportation industries. Founded in 1991 as Broadcom Corporation, the company changed its name to Broadcom Inc. in 2018. Broadcom's headquarters is located in San Jose, California. The company has subsidiaries around the world and has acquired several other companies, including CA Technologies, Brocade Communications Systems, and Symantec's enterprise division.
Next earnings announcement for Q1 2023:March 16, 2023
Q4 2022 Results
EPS: Reported 10.45 / Expected 10.28 / Previous 9.73
Turnover: Reported 8.93B/ Expected 8.90B/ Previous 8.46B
Financial Overview: Current market capitalization of AVGO amounts to 245.897B USD. The company's TTM EPS is 27.45 USD, dividend yield is 3.13% and PE is 21.17. Broadcom Inc's next earnings release date is March 16. The estimate is US$10.19.
Accounts, including revenue, expenses, profit and loss: AVGO's total revenue for the latest quarter is US$8.93B, up 5.51% from the previous quarter. Net income in Q4 22 is 3.36B USD..
Overview data and accounts source: Tradingview.com
Signal Board of January 09, 2023
LONG - Broadcom Inc - AVGO
Input price: USD 588.43 (and any opening price, without an excessive upward GAP)
We would like to remind you that the signal chosen was identified from those detected by the Lift-Off indicator, which you can view in the "Signals" section of our website. However, we will NOT provide any guidance on how to handle the trade.
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