Technical Analysis: Based on the latest trading data, AVGO closed at $237.44 on Friday (Jan 17, 2025) with a +3.50% gain during regular market hours. The stock is showing strong momentum with RSI at 63.24, indicating bullish sentiment while not yet overbought. The MACD value of 8.27 suggests positive momentum continuation.
Price Targets and Support/Resistance Levels:
News Sentiment and Catalysts:
Next Week's Price Prediction: Based on technical indicators and positive news sentiment, AVGO is likely to test the $240-245 range next week. The stock has strong support at $232, and the current momentum suggests continued upward movement.
Target Price Range for Next Week:
Trading Recommendation: BUY
The strong institutional backing, positive AI growth narrative, and technical momentum support a bullish outlook for next week. The stock's recent break above analyst consensus targets suggests potential for further upside.
The price of AVGO is predicted to go up 10.73%, based on the high correlation periods with BURL. The similarity of these two price pattern on the periods is 97.41%.
AVGO
BURL
Year
AVGO Price Forecast($)
Potential Return(%)
2025
265.000
13.950
2026
300.000
29.000
2027
300.000
29.000
2028
300.000
29.000
2029
300.000
26.900
2030
1,200.000
407.590
Broadcom is a poster child for operating efficiency. It earns excellent operating margins and generates enormous cash flow. It is particularly strong at acquiring companies and trimming excess expenses.
Broadcom's networking and wireless chip businesses boast best-of-breed technologies in our view, along with marquee customer relationships with Apple, Google, Cisco, Arista Networks, and others.
We believe Broadcom will be a significant beneficiary of rising artificial intelligence spending, which we expect to spur significant growth for its networking semiconductor sales.
Mizuho
Price Target
$245 → $260
Upside
+16.11%
Morgan Stanley
Price Target
$233 → $265
Upside
+17.57%
JP Morgan
Price Target
$210 → $250
Upside
+9.39%