Login

Register

Login

Register

Broadcom Stock Chart Analysis: Measured Move Finds Target

Share of Broadcom Inc (AVGO) continue to grind higher, hitting new all-time highs almost daily. The semiconductor stock has rallied from a March 2020 low of $155.00 to its current $422.50 level. The Broadcom stock chart analysis gives some clarity to where the stock will head before a major pull back. With earnings Thursday, December 10th, 2020, this is useful for stock market traders and investors. While Broadcom is extremely extended, the technical measured move tactic shows it may get as high as $449.00 before it corrects sharply. Once it does correct, the downside could be as low as $325.00.

Finding the measured move level is pretty easy. Simply take the support pivot of $197.00 from July 2018 which was tagged again in March 2020 during the Covid-19 panic. Then take the clear pivots from early and late 2019 at $323.00. The difference here is $126.00 from low to high. Once Broadcom broke above $323.00, you simply add $126.00 to get the measured move of $449.00. The stock is now within 6% of the target and earnings are Thursday after the close. It is possible it achieves target into earnings or possibly hits on a quick earnings pop and sells.

Broadcom stock chart analysis seen below…