Broadcom may rise to 1992.00 - 2080.00

1576 is our pivot point.

Our preference

As long as 1576 is support look for 1992.

Alternative scenario

The downside breakout of 1576 would call for 1431 and 1345.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 1687.8545 and 1496.562).

Supports and resistances

2168 **

2080 *

1992 **

1904

1700.67 (USD-last)

1634

1576 **

1431 *

1345 **

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