Broadcom may rise to 2061.00 - 2148.00

Our pivot point stands at 1614.

Our preference

The upside prevails as long as 1614 is support.

Alternative scenario

Below 1614, expect 1478 and 1395.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 1487 and 1385.8798).

Supports and resistances

2232 **

2148 *

2061 **

1976

1734.73 (USD-last)

1669

1614 **

1478 *

1395 **

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