Hello Traders and welcome to AAATrade’s Intraday Technical Analysis session.

Today’s instrument is the Broadcom Inc‘s stock traded in Nasdaq exchange under the ticker AVGO. 

Looking at the AVGO‘s chart, we see a significant upsize on its share price which was supported by the overall industry upsize due to the greater demand on chips where the stock reached a 52W high at $921.78 and then dropped to the last price of around $788.

Yesterday, Broadcom announced better-than-expected quarterly earnings and today we should expect it to rise towards the level of $800 and if it is able to pass it, then it might approach the level of $830-850.

Thank you for reading AAATrade’s Intraday Technical Analysis.

From all of us here, we wish you successful and responsible trading. 

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