Broadcom Faces Key Resistance Zone Now After Earnings Rally

Shares of Broadcom (AVGO) are up well on Friday, up about 4.5% after the company reported profit.

However, the stock is hitting a stubborn area on the charts. While the pre-print charts weren’t much of a comfort, the post-profit rally is trying to improve the technical situation.

The rally comes after Broadcom hit a top and bottom line for its fiscal third quarter, with revenue up 25% year over year.

The company also offered promising prospects, with better-than-expected revenue prospects for the fourth quarter.


Be the first to comment

Leave a Reply

Your email address will not be published.