Long Position on AVGO @ $71.10 on 8/13/2014 (Momentum)

Upward Trading Channel on AVGOAvago Technologies Limited (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.

Shares are heading higher in an upward trading channel, and higher share prices are expected for this stock.

52-Week Trading Range: $35.75 - $76.44

Entry Point: $71.10

Stop Loss: $67.53

Target Price: $78.20

Updates

8/29/2014 9:30:59 AM

AVGO reached our target. Closed at $83.00

Position closed on 8/29/2014 at price of $83.00 with a 16.74% gain in 16 days.

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