Broadcom Inc. (symbol ‘AVGO’) share price has performed very well in the last quarter of the year and also into the new year so far with a minor correction happening in the last 3 sessions. After an overall hard year the company managed to gain most of its losses back and is looking strong in the near short run. The company’s earnings report for the fiscal quarter ending January 2023 is set to be released on Thursday 2nd of March, after market close. The consensus EPS for Q1 is $9,38 compared to Q1 2022’s $7.68.
‘Even though the company’s share value is lower than the beginning of the year, the financials of the company are looking healthy. The net income has increased compared to previous years and the current ratio is over 260% meaning the company has the capacity in assets to cover its short term liabilities. ’ said Antreas Themistokleous at Exness. ‘The dividend yield rate is over 3% while the payout ratio is just above 60% making the share an attractive addition to investors portfolio’
From the technical analysis perspective the price has been trading in a steady bullish movement throughout the whole quarter while a correction came after the resistance of the upper band of Bollinger bands in early February. Currently the price is trading at a strong technical support area which consists of the 50 day moving average, the lower band of Bollinger bands and the 23.6% of the Fibonacci retracement level.
The Stochastic oscillator is recording extreme oversold levels possibly indicating that the correction might be close to its end and a rebound to the upside might be imminent. The following sessions are important to the share price since it would pretty much indicate the near term movement of the stock.
‘Even though the company’s share value is lower than the beginning of the year, the financials of the company are looking healthy. The net income has increased compared to previous years and the current ratio is over 260% meaning the company has the capacity in assets to cover its short term liabilities. ’ said Antreas Themistokleous at Exness. ‘The dividend yield rate is over 3% while the payout ratio is just above 60% making the share an attractive addition to investors portfolio’
From the technical analysis perspective the price has been trading in a steady bullish movement throughout the whole quarter while a correction came after the resistance of the upper band of Bollinger bands in early February. Currently the price is trading at a strong technical support area which consists of the 50 day moving average, the lower band of Bollinger bands and the 23.6% of the Fibonacci retracement level.
The Stochastic oscillator is recording extreme oversold levels possibly indicating that the correction might be close to its end and a rebound to the upside might be imminent. The following sessions are important to the share price since it would pretty much indicate the near term movement of the stock.