Broadcom may rise to 1590.00 - 1645.00

1309 is our pivot point.

Our preference

The upside prevails as long as 1309 is support.

Alternative scenario

The downside breakout of 1309 would call for 1222 and 1170.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 1343.9825 and 1319.9312).

Supports and resistances

1698 **

1645 *

1590 **

1536

1393.29 (USD-last)

1344

1309 **

1222 *

1170 **

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