Broadcom surges - Analysis - 26-05-2023

Broadcom's stock (AVGO) rallied in the intraday levels, marking a new high after a profit of 7.25% in the last session, or 49.27 points, and settling at 728.80, amid the dominance of the main upward trend in the short term, with positive support from the 50-day SMA, countered by negative signals from the RSI after reaching overbought levels.

Therefore we expect more gains for the stock, targeting the first resistance at 749.40, provided the support of 677.75 holds on.

Expected trend for today: Bullish