Broadcom Stock Retreats After Soaring on OpenAI Deal—Monitor These Key Price Levels
Key Takeaways
- Broadcom shares lost ground in early trading Tuesday, giving back a portion of the big gains posted yesterday following news that the chip giant had forged a deal with ChatGPT maker OpenAI.
- Buying in the stock accelerated yesterday on the highest trading volume in over a month, a move that coincided with the relative strength index reclaiming the 50 threshold to signal a return of bullish price momentum.
- Investors should watch key overhead areas on Broadcom’s chart around $374 and $415, while also monitoring important support levels near $324 and $291.
Broadcom (AVGO) shares dropped Tuesday morning, giving back a portion of the big gains posted yesterday following news that the chip giant had forged a deal with ChatGPT…
