Broadcom Stands Tall as Other Chips StruggleMost semiconductors have lagged recently as technology stocks and the broader Nasdaq-100 struggle. That makes the price action in Broadcom especially interesting.
Notice how AVGO is holding its 100-day simple moving average (SMA). In contrast, the Philadelphia Semiconductor index is mired below its 200-day SMA. (See below.)
Second, Bollinger Band Width has shrunk back to the lower end of its range. That may indicate that prices are getting ready to expand again.
Next, AVGO’s higher lows since late January are starting to form a potentially bullish ascending triangle. Notice how the 50-day SMA potentially marks the top of the pattern.
Finally, MACD has been turning positive over the course of the last month.
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