Broadcom may rise to 1528.00 - 1576.00

Our pivot point is at 1293.

Our preference

As long as 1293 is support look for 1528.

Alternative scenario

The downside breakout of 1293 would call for 1213 and 1166.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 1361.4435 and 1331.9716).

Supports and resistances

1625 **

1576 *

1528 **

1480

1364.08 (USD-last)

1324

1293 **

1213 *

1166 **

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