AVGO expected to beat earnings but faces technical resistance at 390 and 425, limiting upside potential despite fundamental strength.
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And that leads us to Broadcom this week. Well, I expect them to beat. I expect the guy to be phenomenal, but I don't know how price action is going to follow based on what we saw in Nvidia based on where Broadcom symbol AVGO is trading right now.
It's right at its 200 day moving average, that barometer of health for us technicians. And let's see if it can do well and then trade higher. There's a lot of resistance above, meaning there's pockets of the 50-day moving average starting to turn over 390, that level.
The old high iss 425. So if broadcom rallies I think it will be met with more resistance than you know more headwinds than a tailwind and that has me a little concerned.
But no, that will lead to semiconductors. Broadcom, a top 10 stock. Um and that would be good.
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