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NEW YORK (TheStreet) -- Avago Technologies  (AVGO) stock is increasing by 6.04% to $134 in early-afternoon trading on Friday.

Shares are receiving a boost this afternoon following a fiscal 2016 first quarter earnings and revenue beat from rival Apple (AAPL) supplier Skyworks (SWKS). Skyworks's profit nearly doubled during the latest quarter. 

Avago is a designer, developer and global supplier of a range of analog semiconductor devices. The company's headquarters are in Singapore and San Jose, CA.

TheStreet's Chris Versace and Bob Lang of Trifecta Stocks have identified Avago as the "Chart of the Day." Here is what Versace and Lang had to say about the company:

After Apple's disappointing earnings, some of the component companies that follow the big company retreated sharply. Avago was one of them, but while it got hit with others, the company staged a strong comeback on Thursday. 

Resistance is ahead at $128 and then $134, but that could be enough to turn the chart very bullish. Moving average convergence divergence (MACD) is turning up and will cross for a bull signal today.

Momentum is pushing higher, as RSI made a higher low. One step at a time, but I look for the two gaps ahead to be filled ($137 and $144).

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Chris Versace and Bob Lang " Chart of the Day: Avago Technologies" originally published on 1/29/2016 on Trifecta Stocks.

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Separately, TheStreet Ratings Team rates the stock as a "buy" with a ratings score of A+.

Avago's strengths include its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, notable return on equity and good cash flow from operations.

You can view the full analysis from the report here: AVGO

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.