Today’s instrument is the Broadcom Inc.‘s stock traded in Nasdaq exchange under the ticker AVGO.
Looking at the AVGO‘s chart, we can see that it was lastly traded at around $531.
Last night, it announced better-than-expected quarterly earnings and today we should expect it to test its resistance level at around $550-552. If it is not able to break through its resistance level, then we could expect a correction towards its support level at around $520 otherwise it would rise further towards its next resistance level at around $558-560.
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