Broadcom may fall to 122.70 - 131.40

Our pivot point stands at 175.8.

Our preference

Target 131.4.

Alternative scenario

Above 175.8, look for 190.8 and 199.9.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under its 20 day moving average (165.6178) but above its 50 day moving average (153.2032).

Supports and resistances

199.9 **

190.8 *

175.8 **

169.9

157.35 (USD-last)

139.8

131.4 **

122.7 *

114.1 **

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