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Jim Van Meerten
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Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and... More
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  • Avago Technologies - Barchart's Chart Of The Day 0 comments
    Aug 29, 2014 11:15 AM | about stocks: AVGO

    The Chart of the Day belongs to Avago Technologies (NASDAQ:AVGO). I found the stock by sorting the New High List for the highest technical buy signals then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 8/14 the stock gained 11.69%.

    AVGO is engaged in the design, development, and supply of analog semiconductor devices with a focus on III-V based products. Its product portfolio comprises RF power amplifiers, RF filters, RF front end modules, ambient light sensors, low noise amplifiers, proximity sensors, multimarket-wave mixers, diodes, fiber optic transceivers, serializer/deserializer ASICs, optical laser and receiver components, motion control encoders and subsystems, optocouplers, LEDs, and industrial fiber optics. The company's products are used in cellular phones, consumer appliances, data networking and telecommunications equipment, enterprise storage and servers, data communications, smart phones, base stations, core routing and transport, in-car infotainment, motor controls, factory automation, displays and lighting, power isolation, power conversion, and renewable energy systems applications. It markets its products through a network of distributors and its direct sales force worldwide. The company sells products to original equipment manufacturers of wireless communications, wired infrastructure, industrial and automotive electronics, and consumer and computing peripherals markets.

    (click to enlarge)

    Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

    Barchart technical indicators:

    • 100% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 10 new highs and up 18.15% in the last month
    • Relative Strength Index 81.02%
    • Barchart computes a technical support level at 74.39
    • Recently traded at 82.52 with a 50 day moving average of 73.15


    Fundamental factors:

     

    • Market Cap $20.62 billion
    • P/E 25.56
    • Dividend yield 1.52%
    • Revenue expected to grow 66.00% this year and another 36.00% next year
    • Earnings estimated to increase 38.80% this year, an additional 30.70% next year and continue to increase at an annual rate of 27.72% for the next 5 years
    • Wall Street analysts issued 5 strong buy, 13 buy and 5 hold recommendations on the stock.

    Good steady price appreciation by recent upgrades may have caused the stock o jump to fast. If you have it you want to watch the 50 and 100 day moving averages for weakness and exit points.

    Stocks: AVGO
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