Broadcom (AVGO) Stock Price Rose by Approximately 25% in May

According to available data:
→ AVGO's closing price on 30th April was $192.42
→ The closing price on 30th May was $241.59

The 25% increase in Broadcom (AVGO) stock price made it one of the leaders in the market. For comparison, the S&P 500 index (US SPX 500 mini on FXOpen) rose just over 6%.

Why is the AVGO stock price rising?

Among the bullish factors contributing to the growth of Broadcom (AVGO) stocks in May were:

→ Growing demand for AI infrastructure. This stimulates demand for Broadcom’s products—such as high-performance networking chips, which are critical for building and scaling data centres for AI.

→ Positive news related to the successful integration of the previously acquired company VMware into Broadcom's business.

→ Optimism ahead of Broadcom’s quarterly earnings report, scheduled for 5th June.

Technical Analysis of AVGO Stock Chart

Price movements in May formed an ascending channel (shown in blue).

From a bearish perspective: AVGO stock has risen to the psychological level of $250, which has acted as resistance since December 2024. Additionally, the strong rally in May may motivate some investors to sell previously purchased shares to lock in potential profits.

From a bullish perspective:
→ The price is in the upper half of the channel, which confirms strong demand.
→ A bullish gap highlighted a buyer-favoured imbalance around the $215 level.

Technically, it would be reasonable to expect a corrective move from the $250 resistance deeper into the ascending channel. However, considering the upcoming earnings report—which often triggers volatility—the bulls could attempt to break through the $250 level and set a new all-time high.

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