Watch These Broadcom Stock Price Levels After Post-Earnings Slide
Key Takeaways
- Broadcom shares fell sharply Friday, one day after the chip giant delivered results and an outlook that were largely in line with Wall Street estimates.
- Profit-taking had crept into the stock Thursday on the highest volume in around two months after the stock hit a record high this week, setting the stage for today’s selling.
- The relative strength index recently climbed above 80, a reading that coincided with major tops in the stock in December and June last year.
- Investors should watch key support levels on Broadcom’s chart around $235 and $200, while also monitoring an important overhead area near $265.
Broadcom (AVGO) shares fell sharply Friday, one day after the chip giant delivered results and an outlook that were…
