Today’s instrument is Broadcom Inc.‘s stock traded on the Nasdaq exchange under the ticker AVGO.
Looking at AVGO‘s chart, we can see that it was lastly traded at around $531.
Last night, it announced better-than-expected quarterly earnings, and today we should expect it to test its resistance level at around $550-552. If it is not able to break through its resistance level, then we could expect a correction toward its support level at around $520 otherwise it would rise further toward its next resistance level at around $558-560.
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