Decoding Broadcom's Options Activity: What's the Big Picture?
Portfolio Pulse from Benzinga Insights
Financial giants have shown a bearish move on Broadcom (NASDAQ:AVGO) with 33 unusual trades. 42% of traders were bearish, while 39% were bullish. The predicted price range for Broadcom is between $66.0 and $180.0 over the next three months. The stock is currently down 1.21% at $149.8, with RSI indicators suggesting it may be oversold. Analysts have set an average price target of $1002.0, with some maintaining high target prices up to $2400.
July 29, 2024 | 3:31 pm
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Broadcom has seen significant bearish options activity with 33 unusual trades. The stock is currently down 1.21% at $149.8, and RSI indicators suggest it may be oversold. Analysts have set an average price target of $1002.0, with some maintaining high target prices up to $2400.
The significant bearish options activity suggests a negative sentiment among traders. The stock's current decline and RSI indicators pointing to an oversold condition further support a short-term bearish outlook. However, high analyst price targets provide a mixed long-term view.
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