Broadcom may fall to 106.50 - 115.90

Our pivot point is at 162.4.

Our preference

The downside prevails as long as 162.4 is resistance.

Alternative scenario

Above 162.4, look for 178.9 and 188.6.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 152.6618 and 156.5056).

Supports and resistances

188.6 **

178.9 *

162.4 **

156

148.26 (USD-last)

125.4

115.9 **

106.5 *

97.1 **

Number of asterisks represents the strength of support and resistance levels.