Broadcom Corporation provides semiconductor solutions for wired and
wireless communications. Its products offer voice, video, data, and
multimedia connectivity in the home, office, and mobile environments.
The company operates in three segments. The Broadband Communications
segment offers solutions for home, including cable, xDSL, fiber,
satellite, and IP broadband networks to enable the connected home, such
as set-top-boxes and media servers, residential modems and gateways,
small and residential cells, and wired home networking solutions. The
Mobile and Wireless segment provides low-power, high-performance, and
highly integrated solutions powering the mobile and wireless ecosystem
that consists of Wi-Fi and bluetooth, cellular SoCs, personal navigation
and global positioning, near field communications, voice over IP, and
mobile power management solutions. The Infrastructure and Networking
segment offers highly integrated solutions for carriers, service
providers, enterprises, small-to-medium businesses, and data centers for
network infrastructure needs, including ethernet switches, physical
layer devices, multicore embedded processors, knowledge-based
processors, digital front ends for wireless infrastructure, switch
fabric solutions, high-speed ethernet controllers, and microwave
backhaul devices.
Please take a look at the 1-year chart of BRCM (Broadcom Corporation) below with my added notations:
BRCM appears to have been forming a base from July through November.
Several times over that period of time the stock hit a key resistance
level at around $28 (blue). Earlier this week BRCM finally broke up out
of its range and above that important $28 level. The stock should be
moving overall higher from here, assuming it holds above $28.
The Tale of the Tape: BRCM had a key level of
resistance at $28 that should now act as support on any pullbacks. A
long trade could be entered on a pullback to $28 with a stop placed
below that level. A break back below $28 could negate the forecast for a
move higher.
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