Broadcom (NASDAQ:BRCM) has opened bullishly above the pivot of $34.99 today and has reached the first level of resistance at $35.47. Investors may be interested in a cross of the next upside pivot targets of $35.71 and $36.43.
Broadcom Corporation provides integrated silicon solutions that enable broadband digital data transmission of voice, data, and video content to the home and within the business enterprise. The Company designs, develops, and supplies integrated circuits for cable set-top boxes, cable modems, high-speed networking, direct satellite and digital broadcast, and digital subscriber line.
Broadcom (NASDAQ:BRCM) has potential upside of 15.5% based on a current price of $35.58 and analysts' consensus price target of $41.10. The stock should discover initial support at its 200-day moving average (MA) of $33.87 and subsequent support at its 50-day MA of $31.07.
In the past 52 weeks, Broadcom share prices have been bracketed by a low of $27.59 and a high of $46.75 and are now at $35.58, 29% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.
