Broadcom Jumps Before Earnings
Posted on Wed 7th Feb, 2007 10:39:32 AM
Very interesting chart here, looking at Broadcom’s (BRCM) jump today of over 6% before earnings. Earnings, due out tomorrow, are expected to be strong, and perhaps the market is looking up for the semiconductor manufacturer. Note on this chart the two resistance areas above, the first being around $34.70, and the second being at about $37. If the stock pushes and closes above $37 tomorrow it may be a good buypoint looking for a move towards $37. If not, I would wait to see if BRCM trades down towards its 50 DMA then buy on strength.
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